Tuesday, February 24, 2009

Foreclosures In Immigrant Communities of Minneapolis

On Friday, several of us here at the Center attended an excellent presentation by professor Ryan Allen from the Humphrey Institute of Public Affairs regarding a study he conducted on foreclosures in immigrant communities in the City of Minneapolis.

Using data from the Hennepin County Sheriff’s Office and the Minneapolis Public Schools, Dr. Allen identified which foreclosed properties between the years 2006 and 2008 were inhabited by immigrant households.

Research results suggest that immigrant homeowners have been disproportionately affected by foreclosures in Minneapolis. The forum highlighted the research findings of this project and considered the implications of these findings on future foreclosure prevention strategies.

One of the policy recommendations of this study, that directly affects the work we do here at the Center is:
  • Increase availability of Financial literacy and first-time homebuyer classes

For information about existing first-time homebuyer classes in Minnesota, visit: http://www.hocmn.org/buyahome.cfm

There is LOTS of additional information in Dr. Allen's report that speak to the work many of us are involved in. To view a PDF version of his PowerPoint presentation, visit: http://www.cura.umn.edu/Programs/Housing-Forum/2009/Foreclosures_and_Immigrants.pdf

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