Chapter 17. The Subprime State of Race

  1. Susan J. Smith Mistress Professor Director Fellow Editor-in-Chief2 and
  2. Beverley A. Searle PhD Lecturer3
  1. Elvin K. Wyly Associate Professor Chair

Published Online: 29 APR 2010

DOI: 10.1002/9781444317978.ch17

The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations

The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations

How to Cite

Wyly, E. K. (2010) The Subprime State of Race, in The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations (eds S. J. Smith and B. A. Searle), Wiley-Blackwell, Oxford, UK. doi: 10.1002/9781444317978.ch17

Editor Information

  1. 2

    University of Cambridge, UK

  2. 3

    Durham University, UK

Author Information

  1. University of British Columbia, Canada

Publication History

  1. Published Online: 29 APR 2010
  2. Published Print: 12 MAR 2010

ISBN Information

Print ISBN: 9781405192156

Online ISBN: 9781444317978

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Keywords:

  • subprime state of race;
  • subprime - from risk-based pricing to racial state;
  • political spectrum in USA, racial and ethnic minorities - dramatic expansion of lending to minorities;
  • central dilemma of credit rationing - asymmetric information;
  • advent of risk-based pricing – key to innovations in US mortgage market;
  • Equal Credit Opportunity Act of 1974, Home Mortgage Disclosure Act (HMDA) - statutes embodying turning point in American race relations;
  • credit crunch and curious disappearance of race;
  • African American and Hispanic/Latino borrowers - ending up with subprime credits;
  • interaction of racial inequalities with securitization networks;
  • Sidaway's call in mapping geographies of race and to counter racist conservative discourse

Summary

This chapter contains sections titled:

  • Subprime: from Risk-Based Pricing to the Racial State

  • Credit Crunch: The Curious Disappearance of Race

  • Data and Methods

  • Mapping Old and New Inequalities

  • Modeling the Transformation

  • Theorizing the Subprime Racial State

  • Conclusions

  • References