From Name

From Email

To Name

To Email

Message

Think land policy is unrelated to racial injustice? Think again.

from Lincoln Institute of Land Policy

Think land policy is unrelated to racial injustice? Think again. Lincoln Institute of Land Policy In the depths of the Great Depression, with the housing market in shambles and roughly half of America's home mortgages in default, the U.S. Congress stepped in to provide massive emergency relief. From 1933 to 1936, the Home Owners' Loan Corporation (HOLC) refinanced more than $3 billion in mortgages—equivalent to roughly $1 trillion as a share of the economy today. The HOLC pioneered the self-amortizing mortgage, allowing families to own their homes outright in 25 years. In their frenzied attempt to save the U.S. economy, New Dealers had to navigate difficult political waters. Deficit hawks, nativists, and racists in Congress opposed any programs that risked increasing the federal debt or offering "handouts" to immigrants or people of color. READ MORE

more