10 Steps to Home Ownership: A Workbook for First-Time Buyers The Center for Responsible Lending claims that the subprime market causes a net loss in home ownership, implying that if the subprime market were shut down, home ownership would rise, a startling claim that deserves careful scrutiny. To determine whether the subprime market increases or decreases home ownership requires a comparison of two numbers. The first is the number of homeowners who would not be homeowners if not for the subprime market. The second is the number of nonhomeowners who would be homeowners if not for the subprime market. If the second number is larger than the first, which the CRL claims to be the case, the market reduces home ownership. The CRL measures the positive contribution of the market as the number of subprime loans to first-time home buyers. It measures the negative contribution of the market as the number of subprime foreclosures.

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