Out of Reach 2009
Persistent Problems, New Challenges for Renters
Keith E. Wardrip, Senior Research Analyst
Danilo Pelletiere, Research Director
Sheila Crowley, President
The foreclosure crisis has been the housing story since 2007. When it began, the story seemed simple enough: Some owners had taken out loans they could not afford, home values dropped, and, lacking the ability to refinance or sell for a profit, foreclosure followed. However, the story became more complex as the deflating housing bubble precipitated a full-blown economic recession and widespread job losses, making it difficult for owners and renters of all stripes to remain in their previously affordable homes.
It is important to remember that extremely low income renters were in the midst of a housing crisis well before this wave of foreclosures captured America’s attention.
For more information on the 2009 Out of Reach data, please contact Elina Bravve at firstname.lastname@example.org or 202-662-1530 x244.