A Brief History of Housing in the USA

This chapter provides the historical and political background on the US housing crisis. It focuses on housing development throughout the 20th and early 21st centuries, the historical period of time that is most important to understand current developments on the residential market. First, the focus is on housing policiesHousinghousing policies before the 1970s, which were mostly born out of the New Deal legislation. Then, this chapter illustrates the shift toward more market-liberal housing policiesHousinghousing policies following on the Nixon presidency, cutting funds for welfareWelfare programs while relaxing rules for mortgage lendingMortgagemortgage lending. These developments were reinforced in the 1990s, as the third section details, culminating in a housing bubble in the mid-2000s and a financial recession which many are still recovering from. The final section of this chapter links these national and global developments to the three case study cities. Here AtlantaAtlanta, New OrleansNew Orleans, and Washington, DCWashington, DC, are introduced as some of the most gentrifying cities in the US. While they follow different local logics, they all experience rapid redevelopment and subsequent displacement, leading to stark disparities in the housing market.