Community Development in Practice - Volume 23, Issue 1
This issue of Community Investments focuses on community development practiceâ€“what are some emerging ideas for programs and policies that can help lower-income communities rebuild after the recession, and what do we know about their effectiveness? The issue profiles two new efforts to improve consumers’ financial decisions, including a lottery-based savings account for youth and a nonprofit check cashing outlet. It also highlights new research on shared equity homeownership programs, local strategies for responding to investor purchases of distressed properties, and the early implementation of the Neighborhood Stabilization Program.
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Table of Contents
According to the National Bureau of Economic Research, the nationâ€™s economy began to grow again in June of 2009, ending an 18-month recession that was the longest on record since the Great Depression. Yet low-income communities across the 12th District remain in economic crisis, struggling with the compounding effects of unemployment, foreclosures, and neighborhood disinvestment.
Mission SF Community Financial Center, a nonprofit affiliate of the Mission SF Federal Credit Union in San Francisco, CA, has developed an innovative approach to teaching youth financial education and encouraging youth to save by awarding a prize linked to their savings behavior.
In May of 2009, Community Development Finance opened the first nonprofit, full-service check cashing store in the country in Fruitvale, California. Daniel Leibsohn shares the lessons learned from the first two years of operation.
In the wake of the foreclosure crisis, what programs can help low-income families become homeowners in a sustainable way? Shared equity programs offer one model, successfully balancing both affordability and asset building goals.
A look at the best practices and promising approaches being used in communities to prevent irresponsible investor ownership from leading to neighborhood decline.
The foreclosure crisis has played out differently in different housing markets. Learn how the federal Neighborhood Stabilization Program strategically targets funding to ensure that interventions are aligned with local conditions.
Research briefs on small business and job creation, financial literacy and wealth, and suburban gentrification.
The last time we heard from you, you mentioned that there were some new rules that were pending on how the CRA might be changed to accommodate the Neighborhood Stabilization Program. My bank has been active in the program and Iâ€™ve got a CRA exam around the corner. I need help right away!
Trends in serious delinquent mortgages in the 12th district, FHA loans and purchases by first-time homebuyers, and percent change in house values, January 2007 – November 2010.