Homeownership Built to Last

Homeownership Built to Last

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The ups and downs in housing markets over the past two decades are without precedent, and the costsa€”financial, psychological, and sociala€”have been enormous. Yet Americans overwhelmingly still aspire to homeownership, and many still view access to homeownership as an important ingredient for building wealth among historically disadvantaged groups. This timely volume reexamines the goals, risks, and rewards of homeownership in the wake of the housing bubble and subprime lending crisis. Housing, real estate, and finance experts explore the role of government in supporting homeownership, deliberate how homeownership can be made more sustainable, and discuss how best to balance affordability, access, and risk, particularly for minorities and lowincome families. Contributors: Eric S. Belsky (JCHS); Raphael W. Bostic (University of Southern California); Mark Calabria (Cato Institute); Kaloma Cardwell (University of California, Berkeley); Mark Cole (Hope LoanPort); J. Michael Collins (University of Wisconsina€“Madison); Marsha J. Courchane (Charles River Associates); Andrew Davidson (Andrew Davidson and Co.); Christopher E. Herbert (JCHS); Leonard C. Kiefer (Freddie Mac); Alex Levin (Andrew Davidson and Co.); Adam J. Levitin (Georgetown University Law Center); Mark R. Lindblad (University of North Carolina at Chapel Hill); Jeffrey Lubell (Abt Associates); Patricia A. McCoy (University of Connecticut School of Law); Daniel T. McCue (JCHS); Jennifer H. Molinsky (JCHS); Stephanie Moulton (Ohio State University); john a. powell (University of Californiaa€“Berkeley); Roberto G. Quercia (University of North Carolina at Chapel Hill); Janneke H. Ratcliffe (University of North Carolina); Carolina Reid (University of Californiaa€“Berkeley); William M. Rohe (University of North Carolina at Chapel Hill); Rocio Sanchez-Moyano (JCHS); Susan Wachter (University of Pennsylvania); Peter M. Zorn (Freddie Mac)Balancing Access, Affordability, and Risk after the Housing Crisis Eric S. Belsky, Christopher E. Herbert, Jennifer H. ... Indeed, subprime originations were particularly plentiful in lower-income and minority areas underserved by conventional credit. The percent of home purchase mortgages originated by subprime specialists grew from 2.4 percent in 1993 to 13.4 ... who would not qualify for a prime loan due to poor credit histories, most typically defined as a credit score below 620.


Title:Homeownership Built to Last
Author: Eric S. Belsky, Christopher E. Herbert, Jennifer H. Molinsky
Publisher:Brookings Institution Press with the Joint Center for Housing Studies of Harvard University - 2014-06-27
ISBN-13:

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