Skip to main content

New Book Details Homeownership Challenges in Detroit

Nov 23, 2016
Quicken Loans is welcoming a decision for the relocation of a Department of Justice (DOJ) lawsuit to the Eastern District Court in Detroit, where the company is headquartered

For many people, achieving homeownership is a major step for creating a future of economic security and wealth building. But in the upcoming book Abandoned Families: Social Isolation in the 21st Century, University of Michigan sociologist Kristin S. Seefeldt focuses on 45 mostly Black women in Detroit who discovered that homeownership was not an automatic guarantee for entering or staying in the middle class.

Despite aid programs from the federal government targeting distressed homeowners and municipal efforts to improve blighted neighborhoods by bulldozing abandoned homes and working with homeowners burdened by delinquent property taxes, Seefeldt concluded that Detroit’s recovery efforts ultimately did not benefit the predominantly Black communities in the outer sections of the city.

“In Detroit, many neighborhoods are recovering, but they tend to be close to the downtown core, where there is a demand for more affluent housing by White folks,” she said, noting that the predominantly Black neighborhoods were still struggling with the aftermath of the housing bubble. “When neighborhoods start crumbling, you start to think if the best use of funds involves putting money into a house where you may never get any return on investment.”

Seefeldt noticed that the working-class women she interviewed for her book were stymied by the limited choices they encountered when trying to pursue the American Dream. Seefeldt’s research showed that many of the women that she interviewed wound up deep in debt because of sub-prime mortgages and student loans—the latter was particularly bitter, as their pursuit of higher education was not rewarded with opportunities to secure well-paying jobs and lucrative careers.

“My biggest surprise in writing this was realized the extent to which families tried so many different ways to achieve economic stability or upward mobility—but no matter what they tried, nothing seemed to work,” said Seefeldt. “They wound up back where they started, or in an even worse position.”

About the author
Published
Nov 23, 2016
Maximum Acceleration, Originator Connect Network Sign Exclusive CE Agreement

Pact gives OCN guaranteed live CE at shows, creates nationwide opportunity for Maximum Acceleration

Apr 17, 2024
CMG Acquires Norcom Mortgage's Retail Side

The 25-branch addition will enhance CMG’s northeastern presence from Maryland to Maine.

Apr 12, 2024
CFPB Weighs Title Insurance Changes

The agency considers a proposal that would prevent home lenders from passing on title insurance costs to home buyers.

NEXA Begins Search For New CFO

NEXA CEO retires the president position after Mat Grella's termination.

Apr 01, 2024
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024