Home Ownership and the American Dream

Home Ownership and the American Dream

Home Ownership and the American Dream
• Housing is a critical issue for the working poor. Key findings of the Department of Housing and Urban Development (HUD) (2000) analysis show the following:
1. From 1993 to 1998, the number of subprime refinancing loans increased ten-fold.
2. Subprime loans are three times more likely in low-income neighborhoods than in high-income neighborhoods.
3. Subprime loans are five times more likely in black neighborhoods than in white neighborhoods.
4. Homeowners in high-income black areas are twice as likely as homeowners in low-income white areas to have subprime loans.
Using the module readings, Argosy University online library resources, and the Internet, research the subprime crisis. Then, answer the following:
0 How much is housing related to the “American Dream“?
0 How did this housing crisis affect the working poor?
0 Identify any new policies in place to help the working poor find affordable housing.
Write a 2-page paper in Microsoft Word format, following current APA formatting. Include a separate page for your references.

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