Brief America's Second Housing Boom
Edward Gramlich
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The prime mortgage market largely fueled America's first housing burst after World War II. Low- and moderate-income households, largely excluded from this earlier movement, are getting swept into the second housing boom. This brief details how homeownership has again expanded, this time fueled by the development of the subprime market. Rising interest-payment burdens for many subprime borrowers, however, might mean delinquencies and foreclosures.
Research Areas Economic mobility and inequality Housing
Tags Housing markets Income and wealth distribution Opportunity and ownership