St. Paul’s low income neighborhoods are suffering from a drop in housing values that far exceeds the decline in more affluent parts of the city.
An interfaith coalition called ISAIAH released the report at a meeting in St. Paul on Tuesday, October 11th.
The study found that in the last five years, home values have fallen throughout the city. Values have dropped about 50 percent in St. Paul’s poorest neighborhoods, which is almost double the decline reported in areas with higher incomes.
The result, according to ISAIAH, is the deepening of an already wide economic disparity between racial groups in the city.
Lars Negstad is the strategic campaign coordinator for ISAIAH. He spoke with KFAI’s Mike Fischbein on The Takeaway. [Audio below]