Barriers for home ownership in East Winston: mortgage void and cash buyers

by David Ford

Winston-Salem is an economically divided city, and those divisions have only accelerated following the Great Recession. Since then, while total home values throughout the city have soared, in East Winston, they’ve steadily declined from nearly $3.5 billion dollars in 2007 to just over $1 billion today.

A study by the public problem-solving organization New America, based in Washington D.C., and Winston-Salem State University’s Center for the Study of Economic Mobility (CSEM) — researching barriers to economic mobility — shows why it’s happening, the impact it’s having on individuals and neighborhoods, and what can be done to stop it.

The report is titled The Lending Hole at the Bottom of the Homeownership Market. CSEM Co-authors Zach Blizard and Craig Richardson spoke with WFDD’s David Ford...

See the full article and audio clip HERE: Barriers for Home Ownership in East Winston