August 05, 2014
Brookings Institution Press and the Harvard Joint Center for Housing Studies release Homeownership Built to Last
CAMBRIDGE, MA & WASHINGTON, DC— Though the national homeownership rate rose to its highest level ever in 2005, millions of Americans saw their hopes of building wealth through homeownership dashed in the foreclosure crisis that followed, at enormous financial, psychological, and social costs. With tighter credit in the wake of the crisis, purchasing a home today can be very difficult, particularly for those with limited resources. Despite the challenges and risks, however, Americans overwhelmingly still aspire to homeownership, and many advocates continue to view it as an important wealth-building strategy for low-income and minority households. A new book from the Brookings Institution Press and the Harvard Joint Center for Housing Studies, Homeownership Built to Last: Balancing Affordability, Access, and Risk after the Housing Crisis(978-0-8157-2564-0; paperback; $45), reexamines the goals of homeownership and explores lessons learned from the housing crisis. The book features contributions from some of the country’s preeminent housing, real estate, and finance experts and scholars, and focuses on a variety of themes, including homeownership as a policy goal in the wake of the housing crisis, supporting the home buying process for low-income households, balancing affordability and access to homeownership while mitigating risks, the government’s evolving role in housing finance, and sustaining homeownership particularly for owners who encounter distress.
Some of the book’s key findings include:
Even with all of the implied hardships, owning a home is still a classic path to building substantial financial and social benefits. Homeownership Built to Last is an important compilation of research, showcasing solutions and strategies to create an affordable, fair, and sustainable future, particularly for the low-income and minority population in the United States.
For more information, please contact:
Kerry Donahue, (617) 495-7640, email@example.com
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