Community socioeconomic status and disparities in mortgage lending: An analysis of Metropolitan Detroit |
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| Institution: | 1. Carolina Population Center, University of North Carolina at Chapel Hill, Chapel Hill, NC, United States;2. Department of Epidemiology, University of North Carolina at Chapel Hill, Chapel Hill, NC, United States;3. Social & Scientific Systems, Research Triangle Park, NC, United States;4. School of Nursing, Duke University, Durham, NC, United States;5. Department of Geography, University of North Carolina at Chapel Hill, Chapel Hill, NC, United States;6. Boston University School of Public Health, Boston, MA, United States;1. Michigan Department of Natural Resources, Lake St. Clair Fisheries Research Station, 33135 South River Road, Harrison Township, MI 48045, United States;2. Michigan Department of Natural Resources, Lake Erie Management Unit, 7806 Gale Rd, Waterford, MI 48327, United States;3. Ontario Ministry of Natural Resources and Forestry, Lake Erie Management Unit, 320 Milo Rd, Wheatley, ON, Candada;4. Division of Wildlife, Ohio Department of Natural Resources, Sandusky Fisheries Research Station, 305 E. Shoreline Drive, Sandusky, OH 44870, United States;5. U. S. Geological Survey, Great Lakes Science Center, 1451 Green Rd., Ann Arbor, MI 48105, United States;1. Neuroscience Program, University of Illinois at Urbana-Champaign, Urbana, IL, USA;2. Department of Epidemiology, University of North Carolina Gillings School of Global Public Health, USA;3. Department of Psychiatry, McLean Hospital, Harvard Medical School, Belmont, MA, USA;4. Boston University School of Public Health, Boston, MA, USA;5. Department of Molecular and Integrative Physiology, University of Illinois at Urbana-Champaign, Urbana, IL, USA;6. Carl R. Woese Institute for Genomic Biology, University of Illinois at Urbana-Champaign, Champaign, IL, USA;7. Department of Psychology, University of Illinois at Urbana-Champaign, Champaign, IL, USA |
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| Abstract: | This note examines the effects of community socioeconomic status on mortgage lending patterns in Metropolitan Detroit. Data from 2000 HMDA reports and the 2000 U.S. Census are analyzed using multiple regression. The results from this analysis have two important implications for research on mortgage lending. First, they indicate that the effects of variables linked to a community's socioeconomic status on mortgage lending patterns are highly intercorrelated. As a result, variations in mortgage lending appear to be the result of the combined effects of a number of socioeconomic variables acting together. Second, the results from this analysis indicate that the socioeconomic status of a community is positively correlated with mortgage lending activity. In other words, a decline in neighborhood socioeconomic status is significantly correlated with a decline in mortgage lending. |
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