Assignment 2: Working Poor and the Subprime Crisis

Assignment 2: Working Poor and the Subprime Crisis

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.

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 3–4-page paper in Microsoft Word format, following current APA formatting. Submissions Area.

United States Department of Housing and Urban Development. (2000). Unequal burden: Income and racial disparities in subprime lending in America. Retrieved from
http://www.huduser.org/portal/publications/fairhsg/unequal.html

Grading Criteria and Rubric

Assignment 2 Grading CriteriaMaximum Points

Explained the relation between housing and the “American Dream.”12pts

Elaborated on how the housing crisis affected the working poor.28pts

Identified any new policies to help the working poor find affordable housing showing research and analysis. 40pts

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