Description - Low-Income Homeownership by Nicolas P. Retsinas
A generation ago in the US little attention was focused on low-income homeownership. Today homeownership rates among underserved 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/ethinic 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. It is divided into five chapters that focus on: homeownership trends in the 1990s; overcoming borrower constraints; financial returns to low-income homeowners; low-income loan performance; and the socioeconomic impact of homeownership.
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Publisher: Brookings Institution
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Author Biography - Nicolas P. Retsinas
Nicolas P. Retsinas is director of Harvard University's Joint Center for Housing Studies and a member of the faculty of the Harvard Graduate School of Design, the Kennedy School of Government, and Business School. Eric S. Belsky is managing director of the Joint Center for Housing Studies and a lecturer in the Harvard Graduate School of Design.