An unexpected geography of opportunity in the wake of the foreclosure crisis: Low-income renters in investor-purchased foreclosures in Phoenix, Arizona

Research output: Contribution to journalArticle

11 Scopus citations

Abstract

During the recent United States foreclosure crisis, investors purchased and leased thousands of homes nationwide, opening up formerly owner-occupied neighborhoods to renters. Yet, little is known about how this process affected regional patterns of residential segregation and inequality. In this study, we combine property-level data on real estate transactions and subsidized housing vouchers from 2004 to 2014 to assess whether the conversion of foreclosures to rentals enabled low-income renters to live in more advantaged neighborhoods in Phoenix, Arizona. Renters with vouchers living in investor-purchased foreclosures were in lower-poverty neighborhoods compared with those not living in investor-purchased foreclosures. This suggests that foreclosure sales may have widened the geography of opportunity for low-income renters with subsidized housing.

Original languageEnglish (US)
Pages (from-to)1197-1220
Number of pages24
JournalUrban Geography
Volume36
Issue number8
DOIs
StatePublished - Nov 17 2015

Keywords

  • foreclosures
  • geography of opportunity
  • investors
  • poverty
  • recession
  • renters

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Urban Studies

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