Community development financial expertise put in service of neighborhood stabilization
Abstract: As we began 2009, communities across the United States faced an unprecedented crisis brought about by millions of mortgage foreclosures and chaos in the capital markets. More than one million homes stand vacant and home values have fallen in every major metropolitan area over the past year. Several icons of the capital markets?Lehman Brothers, Merrill Lynch, and Wachovia Bank?no longer exist, and others, including Fannie Mae and Freddie Mac, are deeply wounded.
File(s): File format is application/pdf http://www.frbsf.org/publications/community/review/vol5_issue1/tingerthal.pdf
Provider: Federal Reserve Bank of San Francisco
Part of Series: Community Development Innovation Review
Publication Date: 2009