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Chapel Hill, N. C. – UNC Center for Community Capital Director Roberto G. Quercia told a gathering of business, government and academics gathered at the University of North Carolina at Chapel Hill on March 16 that the unique interaction of lending, employment and investment within individual N.C. counties will determine how quickly their residents  and  communities recover from the foreclosure crisis.

Quercia and graduate research assistant Kevin Park presented findings from the center’s research on the experience and impact of the foreclosure crisis in North Carolina at a meeting of the Working Group on Economic Development hosted by UNC’s Office of Economic and Business Development.

Their presentation, “The Many Roads to Foreclosure, N.C.” discussed the center’s analysis of the county-specific economic factors that determine their ability to recover from the foreclosure crisis.

“We concluded that counties with a high number of foreclosures but a strong economic base are more likely to recover slowly on their own because of the competitive advantage they enjoy,” Quercia said. “Similarly, counties with high investment interest and high foreclosure rates are likely to improve as the national economy improves. Most challenging are those counties with both weak economies and a high number of foreclosures. These are places where traditional manufacturing industries relocated many years ago and have yet to be replaced by strong new industries.”

Researchers presented a brief overview of North Carolina’s economy, a summary of the housing market and an update on the evolving lending and employment crisis in the United States and in North Carolina using statistics from three N.C. cities –  Charlotte, Rocky Mount and Wilmington – to illustrate their research findings.

View their presentation.

Mortgage finance is a key area of focus for the UNC Center for Community Capital, the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. Part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill, the center offers data and analysis that helps policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people more effectively. For more information, visit or call (919) 843-2140.

Topics(s): Affordable Homeownership, Default, Bankruptcy, & Foreclosure, Mortgage Finance
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