Federal Reserve Bank
of San Francisco Federal Reserve Bank
of San Francisco

Community Development Research Briefs

Research Briefs feature data and commentary on community development trends and issues.

  • Scale Finance: Industrial-Strength Social Impact Bonds for Mainstream Investors

    Steven H. Goldberg, Caffeinated Capital LLC

    Social Impact Bonds (also known as Pay for Success contracts) have demonstrated significant growth potential within their defined boundaries, but the standard model has not yet developed “mainstream” investment transactions capable of expanding certified evidence-based programs (CEBPs) commensurate with unmet population needs. This paper proposes an enhanced SIB model called “Scale Finance” in which asset owners and fund managers would work with CEBP developers to expand these proprietary programs at their maximum feasible growth rates. If successful, Scale Finance would offer a financially self-sustaining way to effectively solve certain pervasive social problems we already know how to fix.

  • Alaska Rural Homeownership Resource Guide

    This guide provides resources and strategies to housing programs and developers interested in making mortgage financing available to more residents in rural Alaska. It is designed to serve those interested in starting mortgage financing programs or expanding them.

  • Economics in the Community Context: Underemployment

    Gabriella Chiarenza, Federal Reserve Bank of San Francisco

    This paper explores the issue of underemployment and its impact on lower-income households and communities.

  • What It’s Worth: Strengthening the Financial Future of Families, Communities and the Nation

    Federal Reserve Bank of San Francisco and Corporation for Enterprise Development

    The American economy is only as strong as the American household. In communities across the country, families are struggling to thrive. Learn what we can collectively do to tackle poverty and put more families on the path to financial well-being. A new book published by the San Francisco Fed in partnership with CFED, What It’s Worth: Strengthening the Financial Future of Families, Communities and the Nation, provides a 360-degree view of the financial problems and challenges millions of American households face. The book highlights the enormous creativity and innovation underway to improve financial well-being and provides concrete ways that nearly all sectors of society can implement proven and evolving solutions.

  • Analysis of Community Development Needs and Opportunities in Los Angeles County

    William Dowling, Federal Reserve Bank of San Francisco

    This analysis provides data on an array of community development needs and opportunities in Los Angeles County and is valuable information for financial institutions looking to align loans, investments, and services to community development needs in their markets. It is equally valuable for non-profits looking to maximize impact in the areas in which they operate.

  • The Rise of Single‐Family Rentals in Arizona, California, and Nevada

    Laura Choi

    The worst of the housing crisis may be behind us, but the recent housing market recovery opens up a number of new community development questions. Of particular concern is the potential impact of investor purchases of single-family residences, especially in hard-hit neighborhoods that experienced severe price depreciation and offered an abundant supply of distressed property. […]

  • Housing Market Recovery in the 12th District: Implications for Low- and Moderate-Income Communities

    Laura Choi

    Following the aftermath of the Great Recession, national indicators are starting to show signs of improvement in the housing market. However, such indicators mask the realities of what’s happening on the ground in low- and moderate-income (LMI) communities that were disproportionately affected by the housing crisis. Complicating matters is the unprecedented role of investors in […]

  • Household Net Worth and Asset Ownership among the Economically Vulnerable

    Laura Choi

    Households whose balance sheets were dominated by housing, particularly those in depressed markets and those exposed to high-cost predatory mortgages, were deeply exposed to the downside risk that became reality during the Great Recession. These households tended to be lower-income, minority, and have lower educational attainment, meaning they were already struggling with low net worth […]

  • The Suburbanization of Poverty

    Federal Reserve Bank of San Francisco

    Using data from U.S. Census Bureau, this research brief analyzes the changing geography of poverty in the Bay Area. It focuses on the nine-county San Francisco Bay Area and explores the demographic changes that took place between 2000 and 2009.

  • Student Debt and Default in the 12th District

    Laura Choi

    Postsecondary educational expenses and student loan balances have been trending steadily upward, but persistent unemployment and weak economic conditions have created an alarming new trend of rising student loan defaults. This Brief examines broad trends in student borrowing in the Federal Reserve’s 12th District, with an emphasis on students from low- and moderate-income households. The rise of student borrowing has important community development implications as it directly impacts the present and future financial well-being of LMI individuals.