Boston Community Capital

$5.5 Million Awardee

Boston Community Capital’s staff pride themselves on looking around the corner—that is, on paying close attention to emerging trends and how they might impact communities. Back in 2006 and 2007, the particular corner they looked around was the mortgage market, and they couldn’t quite believe what they were seeing. “We were looking at rising home prices in the neighborhoods and did not understand how those prices could be sustainable over time,” says Elyse Cherry, the organization’s CEO. “We saw income levels in the neighborhoods that were roughly flat. Meanwhile home prices were rising dramatically. We knew we had a problem coming.” 

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