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:
From 1993 to 1998, the number of subprime refinancing loans increased ten-fold.
Subprime loans are three times more likely in low-income neighborhoods than in high-income neighborhoods.
Subprime loans are five times more likely in black neighborhoods than in white neighborhoods.
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:
How much is housing related to the “American Dream”?
How did this housing crisis affect the working poor?
Identify any new policies in place to help the working poor find affordable housing.
Write a 2–4-page paper in Microsoft Word format, following current APA formatting. Include a separate page for your references.
Use the following file naming convention: LastnameFirstInitial_M3_A2.doc. For example, if your name is John Smith, your document will be named SmithJ_M3_A2.doc.
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