By: Nicolas P. Retsinas (Editor), Eric S. Belsky (Editor)

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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.

"As a collection on careful empirical research on important dimensions related to the public policy question of whether we should promote homeownership among low-income families, this book is without peer." --Edward G. Goetz, University of Minnesota, Social Service Review, 12/1/2003

Foreword	p. ix
Acknowledgments	p. xiii
Examining the Unexamined Goal	p. 1
Homeownership in the 1990s
Anatomy of the Low-Income Homeownership Boom in the 1990s	p. 15
The Industrial Structure of Affordable Mortgage Lending	p. 64
Overcoming Borrowing Constraints
Introduction	p. 105
Eliminating Credit Barriers: How Far Can We Go?	p. 111
Prepurchase Homeownership Counseling: A Little Knowledge Is a Good Thing	p. 146
Supply-Side Constraints on Low-Income Homeownership	p. 175
Returns to Homeownership
Introduction	p. 201
Asset Appreciation, Timing of Purchases and Sales, and Returns to Low-Income Homeownership	p. 208
Home Price Appreciation in Low- and Moderate-Income Markets	p. 239
Policy Implications of Portfolio Choice in Underserved Mortgage Markets	p. 257
Low-Income Loan Performance
Introduction	p. 275
Prepayment Risk and Lower-Income Mortgage Borrowers	p. 279
Performance of Low-Income and Minority Mortgages	p. 322
Performance of Community Reinvestment Loans: Implications for Secondary Market Purchases	p. 348
Socioeconomic Impacts of Homeownership
Introduction	p. 375
Social Benefits and Costs of Homeownership	p. 381
Housing and Wealth Accumulation: Intergenerational Impacts	p. 407
Impact of Homeownership on Child Outcomes	p. 427
Building Homes, Reviving Neighborhoods: Spillovers from Subsidized Construction of Owner-Occupied Housing in New York City	p. 447
Contributors	p. 479
Index	p. 481
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780815706137
ISBN-10: 0815706138
Series: James A. Johnson Metro Series
Audience: Professional
Format: Paperback
Language: English
Published: 13th August 2002
Dimensions (cm): 22.9 x 15.2  x 2.7
Weight (kg): 0.703