Homeownership Built to Last

Balancing Access, Affordability, and Risk after the Housing Crisis

Eric S. Belsky, Christopher E. Herbert, Jennifer H. Molinsky
Release Date: June 27, 2014

A Brookings Institution Press and Harvard University Joint Center for Housing Studies publication The ups and downs in housing markets over the past two decades are without precedent, and the...

The ups and downs in housing markets over the past two decades are without precedent, and the costs—financial, psychological, and social—have been enormous. Yet Americans overwhelmingly still aspire to homeownership, and many still view access to homeownership as an important ingredient for building wealth among historically disadvantaged groups.

This timely volume reexamines the goals, risks, and rewards of homeownership in the wake of the housing bubble and subprime lending crisis. Housing, real estate, and finance experts explore the role of government in supporting homeownership, deliberate how homeownership can be made more sustainable, and discuss how best to balance affordability, access, and risk, particularly for minorities and low income families.

Contributors: Eric S. Belsky (JCHS); Raphael W. Bostic (University of Southern California); Mark Calabria (Cato Institute); Kaloma Cardwell (University of California, Berkeley); Mark Cole (Hope LoanPort); J. Michael Collins (University of Wisconsin– Madison); Marsha J. Courchane (Charles River Associates); Andrew Davidson (Andrew Davidson and Co.); Christopher E. Herbert (JCHS); Leonard C. Kiefer (Freddie Mac); Alex Levin (Andrew Davidson and Co.); Adam J. Levitin (Georgetown University Law Center); Mark R. Lindblad (University of North Carolina at Chapel Hill); Jeffrey Lubell (Abt Associates); Patricia A. McCoy (University of Connecticut School of Law); Daniel T. McCue (JCHS); Jennifer H. Molinsky (JCHS); Stephanie Moulton (Ohio State University); john a. powell (University of California–Berkeley); Roberto G. Quercia (University of North Carolina at Chapel Hill); Janneke H. Ratcliffe (University of North Carolina); Carolina Reid (University of California—Berkeley); William M. Rohe (University of North Carolina at Chapel Hill); Rocio Sanchez-Moyano (JCHS); Susan Wachter (University of Pennsylvania); Peter M. Zorn (Freddie Mac).

Eric S. Belsky is managing director of the Joint Center for Housing Studies of Harvard University, a lecturer at the Harvard Graduate School of Design, and coeditor of several Brookings/JCHS collaborations, including Moving Forward: The Future of Consumer Credit and Mortgage Finance and Low-Income Homeownership: Examining the Unexamined Goal.

Christopher E. Herbert is research director at the Joint Center, where he conducts housing policy research and oversees the State of the Nation's Housing and America's Rental Housing report series.

Jennifer H. Molinsky is a research associate at the Joint Center. Prior to joining the center she was chief planner for long-range planning in Newton, Mass.