Project Director

Mauldin, Marcus

Department

Dept. of Political Science, Public Administration and Nonprofit Management

Publisher

University of Tennessee at Chattanooga

Place of Publication

Chattanooga (Tenn.)

Abstract

Some scholars contend various public policies have continued to play a role in the creation and persistence of racial wealth inequalities particularly in housing. This thesis explains the wealth gap in Chattanooga through housing policy design and answers the question: Do Chattanooga housing policies contribute to the wealth gap? The thesis also explores local Chattanooga policies believed to influence the wealth gap such as the destruction of the Big Nine, the redevelopment of the Golden Gateway, and the many City of Chattanooga zoning codes (redlining). In addition, this thesis will examine federal policies that have contributed to the wealth gap such as the creation of Home Owners Loan Corporation (HOLC), The National Housing Act of 1934, and the G.I Bill. Throughout time, these policies have prohibited and limited economic opportunities for African Americans, especially within the housing sector. This thesis examines the relationship between public policy and the wealth gap. Specifically, a policy design framework is used to assess the relationship between local housing policies and the wealth gap in Chattanooga as expressed in homeownership. In addition, the thesis also examines additional political and socioeconomic factors thought to influence wealth inequities, the research suggests that government policies and programs play a role, whether intended or not, in the development and persistence of wealth-related disparities. By focusing on housing as a critical factor in the racial wealth gap in Chattanooga, this research aims to provide a deeper understanding of how current policies and historic policies continue to shape the outcomes for the communities in Chattanooga, specifically the African-American communities in Chattanooga. The most common entry point to accumulating wealth in America has been through the acquisition of property, specifically housing. Because property generally increases in value over time, Americans with access to it have been able to use the equity (property value less the mortgage owed) in their homes to fund other activities that contribute to personal wealth. For example, acquiring additional property, funding higher education or private school, buying equipment to start a business, etc. With unrestricted access to property, white Americans have been able to accumulate wealth at a higher rate than any other racial group. Now, in 2024, not only is the wealth gap between Whites and Blacks as wide as it's ever been but also the diversification of the types of assets that make up the wealth of a typical White American has outpaced every other race as well. The more diversified an individual’s assets are, the less likely they’ll be subject to drastic increases and decreases due to outside economic factors Currently, the average Black American’s wealth is overwhelmingly based on home equity (44%). Conversely, home equity makes up only about 19% of the average White American’s net worth. (NCRC article).

Degree

B. S.; An honors thesis submitted to the faculty of the University of Tennessee at Chattanooga in partial fulfillment of the requirements of the degree of Bachelor of Science.

Date

8-2024

Subject

Discrimination in housing--Tennessee--Chattanooga; Housing policy--Social aspects--Tennessee--Chattanooga; Income distribution--Tennessee--Chattanooga; Zoning, Exclusionary--Law and legislation--Tennessee--Chattanooga

Location

Chattanooga (Tenn.)--Economic conditions

Keyword

Wealth gap; Housing Policy; Chattanooga Affordable Housing; Economic Disparity; Urban Planning; Wealth Distribution

Discipline

Urban Studies

Document Type

Theses

Extent

46 unnumbered leaves

DCMI Type

Text

Language

English

Rights

http://rightsstatements.org/vocab/InC/1.0/

License

http://creativecommons.org/licenses/by/4.0/

Date Available

9-4-2024

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Included in

Urban Studies Commons

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