Despite a Strong Housing Market, Foreclosures Are Still a Problem in Houston

Much has been made recently about the housing industry here in Houston – home prices are up. It’s a seller’s market. It’s also a market that has its share of foreclosures.

A recent study from the University of Houston’s Hobby Center for Public Policy examines the factors that contribute to foreclosures in Houston. Over 16 months, researchers looked at households facing foreclosure in five Houston communities: The Third Ward, the East End, Southwest Houston, West Houston and the 1960 area. Respondents in those areas were routinely surveyed to determine their financial situation – and their financial literacy.

On this edition of Houston Matters, we discuss the findings of this Houston Housing Study, as we talk with Jim Granato, Professor of Political Science and Chair of the Hobby Center for Public Policy at the University of Houston.

Then, we turn our attention to efforts to teach kids financial literacy, as a way to stem future foreclosures and other financial woes for some Houstonians. We welcome your questions and comments for Joe Burke, Executive Vice President of Development at Junior Achievement of Southeast Texas.

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