The ups and downs in housing markets over the past two decades are without precedent, and the costs -financial, psychological, and social -have been enormous. Yet Americans overwhelmingly still aspire to homeownership, and many still view access to homeownership as an important ingredient for building wealth among historically disadvantaged groups.
Eric Belsky and Jennifer Molinsky have assembled a team of specilaists to reexamine the goals, risks, and rewards of homeownership in the wake of the housing bubble and subprime lending crisis.
Introduction: Low-Income Homeownership at a Crossroads
Making the Case for Home Ownership as a Policy Goal1. Homeownership, Wealth, and the Production of Racialized Space
2. Is Homeownership Still an Effective Means of Building Wealth for Low-Income and Minority Households? Was It Ever?
3. Reexamining the Social Benefits of Homeownership after the Housing Crisis
Supporting the Home Buying Process4. To Buy or Not to Buy? Understanding Tenure Preferences and the Decisionmaking Processes of Lower-Income Households
5. Developing Effective Subsidy Mechanisms for Low-Income Homeownership
6. Filling the Void Between Homeownership and Rental Housing Balancing Affordability, Access, and Risk
7. Standards, Loan Products, and Performance: What Have We Learned?
8. The Evolving Role of State Housing Finance Agencies
9. Mortgage Default Option Mispricing and Procyclicality
The Government's Role in the Evolving Mortgage Market10. Rethinking Duties to Serve in Housing Finance
11. What Role Has the Government Played in Creating a Dual Mortgage Market in the Past and How Likely Is One to Emerge in the Future?
12. The Role of Mortgage Finance in Financial (In)Stability
Sustaining Homeownership13. Protecting Homeowners, Post-Purchase: Lessons Learned
14. The Home Mortgage Foreclosure Crisis: Lessons Learned