“Wouldn’t You Walk Away?” Foreclosures and Homeowner Understandings

Social work scholarship on neoliberalism—the dominant ideology and policies shaping access to housing, jobs, healthcare, and education—is in its infancy. This study examines the ground-level impact of the subprime mortgage crisis that triggered the Great Recession in 2008, examining how homeowners interpreted the changes to their neighborhood as they witnessed a remarkably high rate of foreclosures during the economic collapse of 2008-2010. Residents of a suburban community were unaware of the lending and banking practices that transformed their neighborhoods, though these policies arguably depreciated house values and a sense of well-being. Not knowing the culpability of predatory lenders in the crisis, some residents turned to an anti-immigrant social movement to preserve their community