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A generation ago little attention was focused on low-income homeownership. Today homeownership rates among under-served groups, including low-income households and minorities, have risen to record levels. These groups are no longer at the margin of the housing market; they have benefited from more flexible underwriting standards and greater access to credit. However, there is still a racial/ethnic gap and the homeownership rates of minority and low-income households are still well below the national average. This volume gathers the observations of housing experts on low-income homeownership and its effects on households and communities. The book is divided into five chapters which focus on the following subjects: homeownership trends in the 1990s; overcoming borrower constraints; financial returns to low-income homeowners; low-income loan performance; and the socioeconomic impact of homeownership.

Table of Contents

  1. Cover
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  1. Title Page
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  1. Contents
  2. pp. v-vii
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  1. Foreword
  2. pp. ix-xi
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  1. Acknowledgments
  2. pp. xiii-xiv
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  1. Chapter 1. Examining the Unexamined Goal
  2. pp. 1-12
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  1. PART 1: Homeownership in the 1990s
  2. p. 13
  1. Chapter 2. Anatomy of the Low-Income Homeownership Boom in the 1990s
  2. pp. 15-63
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  1. Chapter 3. The Industrial Structure of Affordable Mortgage Lending
  2. pp. 64-104
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  1. PART 2: Overcoming Borrowing Constraints
  2. pp. 105-110
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  1. Chapter 4. Eliminating Credit Barriers: How Far Can We Go?
  2. pp. 111-145
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  1. Chapter 5. Prepurchase Homeownership Counseling: A Little Knowledge Is a Good Thing
  2. pp. 146-174
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  1. Chapter 6. Supply-Side Constraints on Low-Income Homeownerhsip
  2. pp. 175-199
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  1. PART 3: Returns to Homeownership
  2. pp. 201-207
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  1. Chapter 7. Asset Appreciation, Timing of Purchases and Sales, and Returns to Low-Income Homeownership
  2. pp. 208-238
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  1. Chapter 8. Home Price Appreciation in Low- and Moderate-Income Markets
  2. pp. 239-256
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  1. Chapter 9. Policy Implications of Portfolio Choice in Underserved Mortgage Markets
  2. pp. 257-274
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  1. PART 4: Low-Income Loan Performance
  2. pp. 275-278
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  1. Chapter 10. Prepayment Risk and Lower-Income Mortgage Borrowers
  2. pp. 279-321
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  1. Chapter 11. Performance of Low-Income and Minority Mortgages
  2. pp. 322-347
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  1. Chapter 12. Performance of Community Reinvestment Loans: Implications for Secondary Market Purchases
  2. pp. 348-374
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  1. PART 5. Socioeconomic Impacts of Homeownership
  2. pp. 375-380
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  1. Chapter 13. Social Benefits and Costs of Homeownership
  2. pp. 381-406
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  1. Chapter 14. Housing and Wealth Accumulation: Intergenerational Impacts
  2. pp. 407-426
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  1. Chapter 15. Impact of Homeownership on Child Outcomes
  2. pp. 427-446
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  1. Chapter 16. Building Homes, Reviving Neighborhoods: Spillovers from Subsidized Construction of Owner-Occupied Housing in New York City
  2. pp. 447-477
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  1. Contributors
  2. pp. 479-480
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  1. Index
  2. pp. 481-495
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Additional Information

ISBN
9780815706038
MARC Record
OCLC
53795192
Pages
495
Launched on MUSE
2012-01-01
Language
English
Open Access
N
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