Just as in society, the mortgage market may exclude people on the basis of place, as well as race. Place-based exclusion in the mortgage market often takes the form of "redlining," a tacit agreement among lending institutions to delineate sections of cities into areas where no home mortgages are to be issued. Place, Exclusion and Mortgage Markets presents an in depth examination of the practice of redlining and the broader implications of contemporary urban exclusion processes. Through a careful balance of comparative research and literature reviews, author Manuel B. Aalbers reveals how redlining, which is most visible at the urban level, is also constituted at the interaction of several spatial scales: neighborhood, urban, regional, national, and global. By utilizing several research strategies and presenting documented evidence from various urban sectors in the United States, Italy, and the Netherlands, this book offers fresh insights and much needed analytical clarity to shape our understanding of redlining and other urban exclusion processes.

List of Illustrations vi

Series Editors' Preface ix

Preface and Acknowledgments xi

Introduction 1

Part I The Exclusion, Urban, and Market Lenses 11

1 Social and Financial Exclusion 13

2 A Socio-Spatial Approach 35

3 Markets, Institutions, Risk, Credit Scoring 53

Part II Redlining Research in the United States, Italy, and the Netherlands 77

4 The United States: One Century of Redlining 79

5 Italy: Capital Switching in Milan 103

6 The Netherlands: Colored Maps 124

Photo Essay The Tarwewijk, Rotterdam 166

Part III Conclusions 179

7 The Globalization of Redlining? 181

References 199

Index 222

Manuel B. Aalbers is Associate Professor in the Department of Geography at the University of Leuven, Belgium. He is the Associate Editor of the Encyclopedia of Urban Studies (2009), and has published extensively on redlining, gentrification, the privatization of social housing, financialization, and the Anglophone hegemony in academic writing.