Chasing the American Dream - New Perspectives on Affordable Homeownership

Chasing the American Dream
New Perspectives on Affordable Homeownership
Edited by William Rohe and Harry Watson

Providing decent, safe, and affordable housing to low- and moderate-income families
has been an important public policy goal for more than a century. In recent years
there has been a clear shift of emphasis among policymakers from a focus on providing
affordable rental units to providing affordable homeownership opportunities. Due in part
to programs introduced by the Clinton and Bush administrations, the nation's
homeownership rate is currently at an all-time high. Does a house become a home
only when it comes with a deed attached? Is participation in the real-estate market a
precondition to engaged citizenship or wealth creation? The real estate industry's
marketing efforts and government policy initiatives might lead one to believe so.

The shift in emphasis from rental subsidies to affordable homeownership opportunities has been justified in a variety of ways.
Claims for the benefits of homeownership have been largely accepted without close scrutiny. But is homeownership always
beneficial for low-income Americans, or are its benefits undermined by the difficulties caused by unfavorable mortgage terms
and by the poor condition or location of the homes bought? Chasing the American Dream provides a critical assessment of
affordable homeownership policies and goals. Its contributors represent a variety of disciplinary perspectives and offer a
thorough understanding of the economic, social, political, architectural, and cultural effects of homeownership programs, as
well as their history. The editors draw together the assessments included in this book to prescribe a plan of action that lays
out what must be done to make homeownership policy both effective and equitable.

Available in MAY 2007, 312 pages, 6 1/8 x 9 1/4, 33 tables, 15 charts/graphs, 3 maps, 33 halftones, 10 line figures
ISBN: 978-0-8014-4553-8

Eric S. Belsky, Harvard University
Charles C. Bohl, University of Miami
Rachel G. Bratt, Tufts University
J. Michael Collins, Policy Lab Consulting Group, LLC
Walter Davis, Statistics New Zealand
Mark Duda, Harvard University
Avi Friedman, McGill University
Edward G. Goetz, University of Minnesota
Roberto G. Quercia, University of North Carolina at Chapel Hill
Carolina Katz Reid, Federal Reserve Bank of San Francisco
Nicolas Retsinas, Harvard University
William M. Rohe, University of North Carolina at Chapel Hill
Michael A. Stegman, John D. and Catherine T. MacArthur Foundation
Lawrence J. Vale, MIT
Shannon Van Zandt, Texas A & M University
Harry L. Watson, University of North Carolina at Chapel Hill

Reviews
"Chasing the American Dream provides a cultural analysis of homeownership that is likely to broaden the scope of
a significant public policy debate. This book addresses an important and timely issue: does homeownership work
for low-income people? The contributors and editors also discuss subsidiary questions including: What are the real
goals of policies supporting homeownership? To what extent are those policies achieving their goals?"
—Susan Saegert, CUNY Graduate Center

About the Author
William M. Rohe is Cary C. Boshamer Distinguished Professor of City and Regional Planning and Director of the
Center for Urban and Regional Studies at the University of North Carolina at Chapel Hill. Harry L. Watson is Professor
of History and Director of the Center for the Study of the American South at the University of North Carolina at Chapel Hill.

Subject Areas
Urban Studies
Sociology
Political Science / Public Administration & Policy

Cornell University Press 512 East State Street, Ithaca, NY 14850
607-277-2338 (phone)
607-277-2374 (fax)


	RELATED LINKS: Bill Rohe		Chasing the American Dream New Perspectives on Affordable Homeownership Edited by William Rohe and Harry Watson Providing decent, safe, and affordable housing to low- and moderate-income families has been an important public policy goal for more than a century. In recent years there has been a clear shift of emphasis among policymakers from a focus on providing affordable rental units to providing affordable homeownership opportunities. Due in part to programs introduced by the Clinton and Bush administrations, the nation's homeownership rate is currently at an all-time high. Does a house become a home only when it comes with a deed attached? Is participation in the real-estate market a precondition to engaged citizenship or wealth creation? The real estate industry's marketing efforts and government policy initiatives might lead one to believe so. The shift in emphasis from rental subsidies to affordable homeownership opportunities has been justified in a variety of ways. Claims for the benefits of homeownership have been largely accepted without close scrutiny. But is homeownership always beneficial for low-income Americans, or are its benefits undermined by the difficulties caused by unfavorable mortgage terms and by the poor condition or location of the homes bought? Chasing the American Dream provides a critical assessment of affordable homeownership policies and goals. Its contributors represent a variety of disciplinary perspectives and offer a thorough understanding of the economic, social, political, architectural, and cultural effects of homeownership programs, as well as their history. The editors draw together the assessments included in this book to prescribe a plan of action that lays out what must be done to make homeownership policy both effective and equitable. Available in MAY 2007, 312 pages, 6 1/8 x 9 1/4, 33 tables, 15 charts/graphs, 3 maps, 33 halftones, 10 line figures ISBN: 978-0-8014-4553-8 Eric S. Belsky, Harvard University Charles C. Bohl, University of Miami Rachel G. Bratt, Tufts University J. Michael Collins, Policy Lab Consulting Group, LLC Walter Davis, Statistics New Zealand Mark Duda, Harvard University Avi Friedman, McGill University Edward G. Goetz, University of Minnesota Roberto G. Quercia, University of North Carolina at Chapel Hill Carolina Katz Reid, Federal Reserve Bank of San Francisco Nicolas Retsinas, Harvard University William M. Rohe, University of North Carolina at Chapel Hill Michael A. Stegman, John D. and Catherine T. MacArthur Foundation Lawrence J. Vale, MIT Shannon Van Zandt, Texas A & M University Harry L. Watson, University of North Carolina at Chapel Hill Reviews "Chasing the American Dream provides a cultural analysis of homeownership that is likely to broaden the scope of a significant public policy debate. This book addresses an important and timely issue: does homeownership work for low-income people? The contributors and editors also discuss subsidiary questions including: What are the real goals of policies supporting homeownership? To what extent are those policies achieving their goals?" —Susan Saegert, CUNY Graduate Center About the Author William M. Rohe is Cary C. Boshamer Distinguished Professor of City and Regional Planning and Director of the Center for Urban and Regional Studies at the University of North Carolina at Chapel Hill. Harry L. Watson is Professor of History and Director of the Center for the Study of the American South at the University of North Carolina at Chapel Hill. Subject Areas Urban Studies Sociology Political Science / Public Administration & Policy Cornell University Press 512 East State Street, Ithaca, NY 14850 607-277-2338 (phone) 607-277-2374 (fax)