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additional direct provision of aid to those who fell outside of its assumed embrace. 42 This move was complemented by adjustments to housing policy. HOPE VI legislation (“Homeownership Opportunities for People Everywhere”), launched by the Clinton administration in 1992, aimed to reduce concentrated poverty through the public-private redevelopment of distressed public housing projects into lower-density, mixed-income communities [See 1.3.3.4, HH: 1994]. Reinforcing the implications of this policy, new mechanisms emerged within lending practice for increased productivity in the expanded, financialized market. Subprime loans are designed to provide borrowing opportunities to individuals with low credit ratings who are unable or have difficulty obtaining prime (conventional) loans. Because lenders perceive these borrowers as more likely to default on their loans than borrowers with higher credit ratings, subprime mortgages typically impose higher interest rates and steeper fees and penalties than conventional mortgages. 43 The subprime loan market increased in value from around $43 billion in 1994 to $385 billion in 2003. 44 In low-income, predominantly minority communities—the same ones largely marginalized from CEA’s “shared growth” and, subsequently, cajoled into participating in a less-and-less regulated market—the share of home-buying loans that were sub-prime increased from around 2 percent in 1993 to 13 percent in 2001. 45 There also, the share of refinanced loans that were sub-prime was 20 percentage points higher than the share for affluent, predominantly white neighborhoods in 2001. 46 Black and Hispanic households were nearly two times as likely to experience or be at serious risk of foreclosure compared to white households during the housing crash. 47 Accordingly, for a contemporary audience, the CEA’s use of the word “recovery” for a period bridging the “Great Recession” of 2008–2013 deserves a second look [See HH: 2010]. With the implication being that productivity, understood in its established technological, growth-oriented postwar frame, can or should be “recovered,” one is again reminded of the suburban communities heralded during the “Age of Shared Growth”—which are now more widely distributed, diverse in size and demographic makeup, and yet increasingly divided along economic lines. 48 The country is seeing a decline in the proportion of suburbs that can be categorized as middle class—cleaving from the imaginary undergirding of the CEA’s narrative. Instead there exists a growing disparity between affluent and poor suburbs. Between 2000 and 2011, in the suburbs of the largest metropolitan areas, the number of people living below the poverty line grew by 64 percent. In comparison, the impoverished population in cities grew by 29 percent. 49 Whereas thirty years ago, these cities and their suburbs hosted equal shares of immigrants, by 2010, more than half of the country’s immigrants were living in suburbs (compared to 33 percent living in cities). 50 Though it helped get Bill Clinton elected to the U.S. presidency just before this period began, it turns out that the central issue was not just, as he famously said, “the economy, stupid.” 51 With growth, participation, and productivity also comes marginalization. But this story does not fit neatly into the narrative given within the CEA report. In a period that has now been labeled “The Great Acceleration,” in reference to human-generated climate change, this suffusion of the sociocultural and environmental context with economic thinking must be understood as constitutive of the changing—and accelerating—nature of inequality as such. 52 Seeing income inequality as both an egregious and insufficient marker of contemporary conditions cannot be dismissed as self-contradicting. Gay rights, seemingly improving at a rate unforeseen by many, 54 55
Page 1 and 2: In 2013, in the United States, the
Page 3 and 4: The Temple Hoyne Buell Center for t
Page 5 and 6: Preface The Art of Inequality: Arch
Page 7 and 8: Introduction What is inequality? Or
Page 9 and 10: to tangible evidence drawn from rea
Page 11 and 12: 1.1 Defining Inequality Jacob Moore
Page 13 and 14: ership rate, this became especially
Page 15 and 16: 26 27
Page 17 and 18: 1.1.4 Race in Place Since the late
Page 19 and 20: American Apartheid (Cambridge, MA:
Page 21 and 22: 38 39
Page 23 and 24: Perhaps predictably, the practices
Page 25 and 26: According to the CEA’s narrative,
Page 27: 50 51
Page 31 and 32: 22. U.S. Census Bureau, Statistical
Page 33 and 34: 62 63
Page 35 and 36: and renovated instead of demolished
Page 37 and 38: Residents displaced by the redevelo
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Page 41 and 42: ut the separation of residents of t
Page 43 and 44: 1. This was encouraged among other
Page 45 and 46: 86 87
Page 47 and 48: Part 2 Architecture 90 91
Page 49 and 50: ity is challenged as a matter of mo
Page 51 and 52: further downtown, on which stands t
Page 53 and 54: lower end, then, the annual housing
Page 55 and 56: of income or consumption expenditur
Page 57 and 58: 10 ft 20 ft Lorcan O’Herlihy Arch
Page 59 and 60: 10 ft 20 ft Broadmoor Development C
Page 61 and 62: sanitation, maintenance, medical, e
Page 63 and 64: 10 ft 20 ft Classic Homes, Windsor,
Page 65 and 66: 10 ft 20 ft Dattner Associates and
Page 67 and 68: 38. “Aksarben Village,” Robert
Page 69 and 70: 3.1 Contracts 3.1.1 Private propert
Page 71 and 72: 3.1.4 the will theory of contract:
Page 73 and 74: sonal liability, generating a compl
Page 75 and 76: so as not to include ‘peculiar ad
Page 77 and 78: avoid conflicts buy access lawfully
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Phase II-Expansion Rents Rise Rapid
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3.2.4 lative frenzies drive up asse
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3.2.5 Real Estate Finance & Investm
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3.3 Schools developments in the fie
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1964 1967 1970s ject field (with
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1996 Stephen E. Roulac, Roulac Glob
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25. James A. Graaskamp, “Redefini
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3.4.2 600 Harrison Avenue, Boston,
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3.4.4 TerraSol, Salt Lake City, UT
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1. In the foreword to a publication
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dictionary of real estate terms glo
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Appendix 214 215
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Botein, Hilary. “New York State H
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Glaeser, Edward. “There are Worse
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Kopczuk, Wojciech, Emmanuel Saez, a
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Renner, Andrea. Housing Diplomacy:
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Weiss, Marc A. “Researching the H
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1939 1937 1934 1933 1932 FHA DENIES
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