More from the Joint Center for Housing Studies

Quickly, this is from a paper entitled, "Eliminating Credit Barriers To Increase Homeownership: How Far Can We Go?" written by Stuart S. Rosenthal in August of 2001:

On balance, therefore, evidence suggests that there is room for further relaxation of borrowing constraints to expand access to homeownership. However, such efforts are likely to be more fruitful if attention is given to mortgage products that alleviate borrowing constraints in the early years of the mortgage [ie. option ARM] and if mortgage product innovation is coupled with policies designed to enhance the social and financial stability of families