This brief provides an overview of the current homeownership status of African Americans, along with relevant historical detail to place the present in context. Why homeownership has been a cherished part of the American dream, and homeownership sustainability among African Americans both are discussed. Trends in homeownership rates among African Americans and initiatives to increase homeownership also are covered in this brief.

SEE ALSO AFRICAN AMERICANS AND HOMEOWNERSHIP: THE SUBPRIME LENDING EXPERIENCE, 1995 - 2007 - NOVEMBER 2007 - BRIEF #2[CLICK HERE]

Date Published: March 2008
 

This brief provides a primer on subprime lending and how it has affected homeownership among African Americans. Its story begins in the mid-1990s with the increase in subprime lending for home purchases, home improvement, and refinancing. How the primary and secondary markets for subprime loans operate and how African Americans and households belonging to other racial/ethnic subpopulations have been served by them are detailed. This brief concludes with a discussion of principles and recommendations for enhancing the operation of the subprime market to better meet the needs of African Americans and other disproportionately low-income populations.

SEE ALSO AFRICAN AMERICANS AND HOMEOWNERSHIP: SEPARATE AND UNEQUAL, 1940 - 2006 - NOVEMBER 2007 - BRIEF #1[CLICK HERE]

Date Published: March 2008