Working Paper #803
Accessing Homeownership With Credit Constraints
Arthur Acolin · Laurie Goodman · Susan M. Wachter
Borrowing Constraints Global Housing & Residential Mortgages Recession Sustainability
The tightening of mortgage credit in the aftermath of the Global Financial Crisis has been identified as a factor in the decline in homeownership in the US to 50 year lows. In this paper, we review findings about the role of borrowing constraints and tightened credit in lowering access to homeownership. We also discuss how institutional changes could hinder or support this access going forward.