High Cost and Investor Mortgages

Research Report

High Cost and Investor Mortgages

Neighborhood Patterns


Neighborhoods likely to be the hardest hit by foreclosure impacts in 2009 are those that experienced the highest densities of subprime (high-cost) lending during the peak 2004-2006 period. This brief examines patterns of such lending in the 100 largest metropolitan areas. The very highest subprime densities were found in minority neighborhoods that were, interestingly, at the higher rather than the lower end of the income spectrum. But there was considerable variety in characteristics among the most troubled. Of the fifth of census tracts that ranked highest in subprime density, 35 percent had predominantly white populations and 60 percent were in the suburbs.

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