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Learning Lessons and Living the Dream: Principles for Restoring Sanity to the Housing Market

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Publication Date: October 2007

Publisher(s): Reform Institute

Author(s): Reform Institute

Funder(s): Reform Institute

Funder(s): Reform Institute

Topic: Banking and finance (Credit and loans)
Social conditions (Housing)

Type: Brief

Abstract:

The emergence of the subprime market, which consists of loans to borrowers with high credit risk, has enabled families that previously could not obtain a home loan to realize their dreams and purchase a house. This increased access to credit helped fuel the housing boom that played a significant role in the strong economic growth of recent years.