racial & economic correlates of eviction and foreclosure ...estimated percent of households...
TRANSCRIPT
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Racial & Economic Correlates of Eviction and Foreclosure Rates in Philadelphia; preliminary observations
Presentation to the Homeownership & Consumer Rights Unit; Community Legal Services
December 13, 2016
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About Reinvestment Fund
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Since 1985, Reinvestment Fund has made $1.8 billion in cumulative investments and loans.
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Problem: Involuntary displacement (i.e., foreclosures and evictions) uproots families, impacts job performance/stability, and causes significant financial harm. It can also cause financial damage to neighbors and exert a destabilizing influence on communities.
To what extent does this phenomenon relate to poverty, income, race and ethnicity in Philadelphia?
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Foreclosure & Eviction Filings in Philadelphia; 2010-2015
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Estimated Foreclosure Rates by Poverty Status, 2010-2015
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Estimated Eviction Rates by Poverty Status; 2010-2015
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Percent of Philadelphia’s Population in Poverty, 2010-2015
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Median Household Income in Philadelphia, 2010-2015
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Percent African American in Philadelphia, 2010-2015
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Percent Hispanic in Philadelphia, 2010-2015
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Percent of Renter Households Facing Eviction, 2010-2015
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Estimated Annual Eviction Rate; 2014-2015
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Percent of Households Facing Foreclosure or Eviction, 2010-2015
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Estimated Annual Combined Eviction and Foreclosure Rates; 2014-2015
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Percent of Renter Households Facing Eviction with Race, Ethnicity and Poverty; 2010-2015
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Percent of Renter Households Facing Eviction with Race, Ethnicity and Poverty; 2014-2015 (annualized)
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Percent of Households Facing Eviction or Foreclosure by Race, Ethnicity and Poverty; 2010-2015
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Preliminary Observations
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Estimated Percent of Renter Households Facing Eviction Controlling for Poverty/Income and Tenure
These charts show that, holding constant poverty/income and tenure, areas with a higher percentage of Black residents have significantly higher percentages of households facing eviction.
For example, holding constant income and tenure, for each increase in the percent Black, there is a .36% percent increase in the percent of renter households facing eviction.
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Estimated Percent of Households Facing Eviction or Foreclosure Controlling for Poverty/Income and Tenure
These charts show that, holding constant poverty/income and tenure, areas with a higher percentage of Black residents have significantly higher percentages of households facing eviction or foreclosure.
For example, holding constant income and tenure, for each increase in the percent Black, there is a .24% percent increase in the percent of households facing eviction / foreclosure.
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Discussion
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For additional information
Ira Goldstein
President, Policy Solutions
Reinvestment Fund