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THE SCHOOL OF CITY AND REGIONAL PLANNING
GEORGIA INSTITUTE OF TECHNOLOGY
Under the provisions of the regulations for the degree
DOCTOR OF PHILOSOPHY
on Thursday, November 19, 2015
2:00 – 4:00 PM
in Arch (West) 250
will be held the
DISSERTATION PROPOSAL DEFENSE
for
Elora Lee Raymond
"The Impact of Racial Segregation, Income Sorting and Risk Based Mortgage Pricing on Housing Wealth Inequality: A Comparison Between Urban Regions"
The Examiners Are:
Dr. Dan Immergluck, Chairperson
Dr. Shatakshee Dhongde, Ivan Allen College
Dr. Micheal Elliott
Dr. Roberto Quercia, UNC at Chapel Hill
Dr. Bruce Stiftel
Faculty and students are invited to attend this examination.
Abstract:
How do urban processes generate inequality in housing wealth? Homeownership is an important vehicle for wealth building and housing wealth represents more than half of household balance sheets. As such, changes in the distribution of home equity shift overall wealth inequality. Over the last twenty years, housing wealth has become much more unequal. Do racial segregation and income sorting amplify the impact of rising income inequality on housing wealth? Do these effects occur primarily through uneven home price appreciation or the unequal allocation of mortgage debt?
Using a unique dataset, I will calculate housing wealth inequality for major metropolitan areas before, during, and after the housing crisis. With this measure, I will evaluate the impact of different spatial scales of income sorting and racial segregation on housing wealth, accounting for the role of subprime lending. Finally, I will use individual-level data to evaluate whether risk-based mortgage pricing amplifies the impact of racial segregation and income sorting on housing wealth inequality in the post-crisis era.
