Report
Apr 16, 2008
Few imaginable economic events send the same message of fear and foreboding in America as a housing crisis. For most Americans, their homes are their greatest asset. And for the states, industries dependent on housing are cornerstones for economic growth and fiscal stability. More info| Summary | Type |
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Subprime SpilloverIn the Center for Responsible Lending's December 2006 study, “Losing Ground,” CRL predicts that millions of American households will lose their homes to foreclosures in the subprime mortgage market. More info |
Report |
Subprime LendingHomeownership is the cornerstone of the American middle class and the foundation of the American dream. Low-interest rates, Wall Street demand for mortgage debt securities and new mortgage products have enabled millions of Americans to buy homes for the first time in their lives. More info |
Issue Brief |
Defaulting on the Dream:ArizonaOne in 18 homeowners in Arizona is estimated to be in foreclosure by the end of 2010, as a result of a subprime-related loan. Years of easily accessible credit and relatively low home prices that facilitated homeownership in the state have ended, leaving in their wake stricter lending terms and stagnating home appreciation. More info |
Issue Brief |
Defaulting on the DreamFew imaginable economic events send the same message of fear and foreboding in America as a housing crisis. For most Americans, their homes are their greatest asset. And for the states, industries dependent on housing are cornerstones for economic growth and fiscal stability. More info |
Report |
Extraordinary growth in subprime mortgage lending to people with low incomes and weak credit led to a crisis in the housing market and the economy as a whole.
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