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Community development financial expertise put in service of neighborhood stabilization

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  • Mary Tingerthal

Abstract

As we began 2009, communities across the United States faced an unprecedented crisis brought about by millions of mortgage foreclosures and chaos in the capital markets. More than one million homes stand vacant and home values have fallen in every major metropolitan area over the past year. Several icons of the capital markets?Lehman Brothers, Merrill Lynch, and Wachovia Bank?no longer exist, and others, including Fannie Mae and Freddie Mac, are deeply wounded.

Suggested Citation

  • Mary Tingerthal, 2009. "Community development financial expertise put in service of neighborhood stabilization," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 1, pages 53-64.
    • Handle: RePEc:fip:fedfcr:y:2009:p:53-64:n:v.5no.1
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