Journal Article

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.

Access Documents


Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: Community Development Innovation Review

Publication Date: 2009

Issue: 1

Pages: 53-64