Homeownership Pt. 3 Vocabulary

Front

What does 'stark' mean?

Back

Severe or bare in appearance or outline.

Front

What does 'dichotomy' mean?

Back

A division or contrast between two things.

Front

What does 'incarceration' mean?

Back

The state of being confined in prison.

Front

What does 'urban decay' mean?

Back

The process by which a city falls into disrepair.

Front

What does 'assert' mean?

Back

To state a fact or belief confidently and forcefully.

Front

What is the meaning of 'disparity'?

Back

A great difference or inequality.

Front

What does 'gentrification' refer to?

Back

The process of renovating and improving a neighborhood, often displacing lower-income residents.

Front

What is 'affordable housing'?

Back

Housing that is reasonably priced and accessible to individuals with low to moderate incomes.

Front

What does 'foreclosure' mean?

Back

The legal process by which a lender takes possession of a property due to the owner's failure to make mortgage payments.

Front

What is 'equity' in terms of homeownership?

Back

The value of an owner's interest in a property, calculated as the current market value minus any outstanding mortgage balance.