Can Miami Convince The Supreme Court That Subprime Loans Hurt Cities, Too?

Can Miami Convince The Supreme Court That Subprime Loans Hurt Cities, Too?

In an amicus brief filed to get Miami, a team of housing scholars argued that there’s a direct website link between your harm to borrowers documented by individuals such as for example Rugh and economic losses incurred by urban centers. Citing a lot more than 10 years of financial and sociological research from a number of sources, Justin Steil, a teacher of legislation and metropolitan preparation at MIT plus one associated with writers for the brief, explained, “the information is more successful that foreclosures do result in decreases in neighboring home values, which in turn result in decreases in city revenues. Foreclosures, ” he added, “also result in more expenditures because of the town in re-securing those properties, coping with the vandalism, squatting, fires. (more…)

Continue Reading
Close Menu