Mortgages Are On The Rise In Detroit, But They're Increasingly Going To White People As Black People Buy In The Burbs
Bridge Magazine has a fascinating new story out that finds that while mortgage activity in Detroit is steadily increasing after bottoming out during the Great Recession, the recovery isn't mirroring Detroit's population demographics. What's more, there are still vast tracts of the city where mortgage activity is virtually nonexistent.
Despite making up just 10% of the city's overall population, white people got almost half of all mortgages in Detroit in 2017, while black people, who comprise 80% of all Detroit residents, got 48% of all home loans. By comparison, black homeowners got…
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