Place, Exclusion and Mortgage Markets. Studies in Urban and Social Change - Product Image

Place, Exclusion and Mortgage Markets. Studies in Urban and Social Change

  • ID: 2248730
  • Book
  • 256 Pages
  • John Wiley and Sons Ltd
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Just as in society, the mortgage market may exclude people on the basis of place, as well as race. Place–based exclusion in the mortgage market often takes the form of "redlining," a tacit agreement among lending institutions to delineate sections of cities into areas where no home mortgages are to be issued.Place, Exclusion and Mortgage Markets presents an in depth examination of the practice of redlining and the broader implications of contemporary urban exclusion processes. Through a careful balance of comparative research and literature reviews, author Manuel B. Aalbers reveals how redlining, which is most visible at the urban level, is also constituted at the interaction of several spatial scales: neighborhood, urban, regional, national, and global. By utilizing several research strategies and presenting documented evidence from various urban sectors in the United States, Italy, and the Netherlands, this book offers fresh insights and much needed analytical clarity to shape our understanding of redlining and other urban exclusion processes.
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List of Illustrations vi

Series Editors′ Preface ix

Preface and Acknowledgments xi

Introduction 1

Part I The Exclusion, Urban, and Market Lenses 11

1 Social and Financial Exclusion 13

2 A Socio–Spatial Approach 35

3 Markets, Institutions, Risk, Credit Scoring 53

Part II Redlining Research in the United States, Italy, and the Netherlands 77

4 The United States: One Century of Redlining 79

5 Italy: Capital Switching in Milan 103

6 The Netherlands: Colored Maps 124

Photo Essay The Tarwewijk, Rotterdam 166

Part III Conclusions 179

7 The Globalization of Redlining? 181

References 199

Index 222

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Together, these strengths make Place, Exclusion, and Mortgage Markets an excellent resource for those  interested in how housing finance markets contribute to social and spatial exclusion.   (City & Community, 1 June 2013)

Place, Exclusion, and Mortgage Markets significantly advances our understanding of the history and current reality of redlining and its exclusionary processes and consequences. Its comparative analysis is a welcome addition to the literature on financial services. Hopefully, it will lead to more equitable approaches to the development of the world s metropolitan regions.   (International Journal of Urban and Regional Research, 2012)

Nevertheless, the book provides a valuable account of the literature and makes interesting reading about market behaviour. It will be useful for those interested in the influence of actors on access to homeownership and the development of urban neighbourhoods.   (Housing Studies, 2 August 2012)

This is a timely and forceful book which seeks to bring together aspects of the financial boom and bust and processes of redlining and exclusion in urban housing markets in a number of countries, namely the USA, Italy and the Netherlands.   (International Journal of Housing Policy, 28 May 2012)

By covering the full field of redlining from abstract socio–spatial theories to concrete cases and a human angle this books offers an ideal introduction to the topic. At the same time, it considerably expands the state of knowledge on financial exclusion.   (Journal of Housing and the Built Environment, 2012)

"The book′s key strength is the actor centred focus on markets that reveals the processes by which markets and places are made in ways that would not be explained by classical models of market behaviour. The detailed descriptions of Rotterdam in particular are of great interest, including a photo essay on Tarwewijk, a neighbourhood of Rotterdam, where the decline was said to have been accelerated by redlining in the 1990s. Furthermore, the history and development of redlining, particular in the US, is also of great use to students and scholars alike." (Housing Studies, 2012)

"An important book that fills the empirical and theoretical gaps in the literature on the sociology and geography of mortgage markets. The book is a fantastic, empirically rich and theoretically innovative exploration of the historical trajectory of urban disinvestment (redlining) and social exclusion that compares the United States, Italy, and the Netherlands." (Financial Technology, 15 November 2011)

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