Addressing Land Contracts through Research, Policy, and Practice: A Housing Symposium
Please join us on October 29, 2019, for a Housing Symposium at the Detroit Branch of the Federal Reserve Bank of Chicago.
Land contracts have attracted the attention of a growing number of policymakers, housing practitioners, and advocates in recent years. In communities where mortgage credit is limited, homebuyers may turn to land contracts for financing. While these arrangements can help achieve homeownership in the absence of a standard mortgage, they carry important risks and few consumer protections, and have negatively impacted many vulnerable households.
This convening will highlight the latest research, policy developments, and programs responding to the use of land contracts, with a focus on Detroit and Flint. The research will include recent data on Detroit’s housing market, the places and people affected by land contract lending, and a historical analysis of predatory land contract lending to black homebuyers in Chicago. Policymakers will discuss responses to protect consumers and to revitalize housing markets. Community development practitioners will share knowledge of effective programs to provide safe pathways to homeownership and to support individuals affected by contract lending.
The Detroit Branch offers free, on-site, secure parking. Please be advised that government-issued photo identification is required in order to enter the building.