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Foreclosure, Lending and Milwaukee Neighborhoods

Foreclosure, Lending and Milwaukee Neighborhoods. Todd Clausen Nonprofit Center of Milwaukee NNIP Indianapolis – October 2007 . RacE. Non-Hispanic White Population Distribution. Most of the suburbs are highly segregated – concentrations of over 95% non-Hispanic White residents.

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Foreclosure, Lending and Milwaukee Neighborhoods

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  1. Foreclosure, Lending and Milwaukee Neighborhoods Todd Clausen Nonprofit Center of Milwaukee NNIP Indianapolis – October 2007

  2. RacE

  3. Non-Hispanic WhitePopulation Distribution Most of the suburbs are highly segregated – concentrations of over 95% non-Hispanic White residents. Most of the center of Milwaukee is the reverse – less that 5% non-Hispanic White. Substantial concentrations of White residents within the city are limited to parts of the East side and to the Far South side.

  4. African AmericanPopulation Distribution The African American community is highly segregated – among the highest concentrations in the nation. Areas in the north are increasingly African-American – but these neighborhoods are not the usual “urban grid” of contiguous blocks. Diversity is high across the Northwest side but individual subdivisions are more segregated. More recently, the number of young African-American households have increased on the near South side.

  5. HispanicPopulation Distribution Hispanic residents are highly concentrated on the near South side. A small Puerto Rican community is also strong on the North side along Holton Avenue, but a larger Puerto Rican community lives on the South side within the much larger Mexican American group.

  6. AsianPopulation Distribution The primary concentration of Hmong and Laotian residents is on the near North West side. South side concentrations have diminished over the past 20 years. The areas on the Northwest side represents new and growing communities.

  7. Poverty

  8. Poverty Milwaukee had 21.3% of individuals living in poverty according to the 2000 U.S. Census. This has climbed to 26.2% in 2006. African Americans are more likely to live in poverty than other groups. In 2007, Black male unemployment rate is second in the nation at 43%, some neighborhoods 60-80% Blue outlines areas of the city with African American populations over 75%.

  9. Mortgage lending

  10. Mortgage Lending

  11. High Cost Home Mortgages 2004 Minority Tracts outlined in green High Cost loans are defined as first lien loans with rate spread 3 points greater than comparable Treasury, or for 5 points for second liens.

  12. High Cost Home Mortgages 2005 Minority Tracts outlined in green

  13. High Cost Home Mortgages 2006 Minority Tracts outlined in green

  14. High Cost Mortgage and Refinance Loans 2004 Minority Tracts outlined in green

  15. High Cost Mortgage and Refinance Loans 2005 Minority Tracts outlined in green

  16. High Cost Mortgage and Refinance Loans 2006 Minority Tracts outlined in green

  17. High Cost Mortgage and Refinance Loans 2006 Green Outline surrounds areas of Milwaukee with 75% or more African American population

  18. Home Loan Denials 2006

  19. Distribution of Home Purchase Loans by Race and Ethnicity – City of Milwaukee

  20. Foreclosure

  21. ForeclosureFast Facts August 2007 Wisconsin 23rd highest in nation (Indiana ranked #10, Nevada #1) Total 2,199 1 for every 1,136 Households %Change from Jul 2007 76.34% %Change from Aug 2006 204.15% RealtyTrac Milwaukee County 6242 listings including 3196 Properties in Pre-Foreclosure

  22. Other Available Data Sheriffs Sale Database Case number Plaintiff Defendant Law firm Sales date Buyer’s name Arms Length Sales Purchase Price Assessed Value Conveyance date Owner’s name Tenure Land use characteristics

  23. Sheriffs Sales 1998

  24. Sheriffs Sales 1999

  25. Sheriffs Sales 2000

  26. Sheriffs Sales 2002

  27. Sheriffs Sales 2003

  28. Sheriffs Sales 2004

  29. Sheriffs Sales 2005

  30. Sheriffs Sales 2006

  31. Sheriffs Sales 1992 to 2007

  32. Sheriffs Sales 1992 to 2007 Green outline surrounds blocks within the city of Milwaukee which are greater than 75% African American

  33. Foreclosure Rate 1992 to 2007 Single Family and Duplex only

  34. Foreclosure Rate 1992 to 2007 Red outline surrounds blocks within the city of Milwaukee which are greater than 75% African American

  35. A Neighborhood Perspective…

  36. Westside Academy Attendance District

  37. Underlying Point Data

  38. Foreclosure Rate 1992 to 2007

  39. Parcel View

  40. West Side Academy – Home Ownership

  41. West Side Academy – Housing Value

  42. Tenure 2007 A high mobility neighborhood on the western edge of the district with a mix of owner-occupied and investor owned properties.

  43. Tenure Change1995 to 2007

  44. Tenure Change1995 to 2007 Points indicate the locations of Sheriffs Sale Foreclosures 1992 to 2007

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