Whiteness as Property: Predatory Lending and the Reproduction of Racialized Inequality

Abstract

With the recent economic crisis in the USA, stories of homes lost to foreclosure are increasingly common. In this paper, we attempt to connect this present day problem to its historical roots in racial oppression. We examine 2004 data from the Home Mortgage Disclosure Act database for racial disparities in lending. We find that African Americans are less likely than European Americans to receive loans from regulated lenders. We also find that regardless of lender type and income level, African Americans are more likely than European Americans to receive high priced loans. We argue that these racial differences in access to quality loans that allow for the acquisition of assets through home ownership are part of a historical trend of whiteness as property and undeserved enrichment and unjust impoverishment.