Furman analysis shows danger in NYC's subprime lending


Just-released Furman Center for Real Estate and Urban Policy data reveals that though subprime lending declined nationally between 2005 and 2006, New York City’s subprime lending last year was higher than the rest of the country’s. The analysis also indicated that black borrowers were four times more likely, and Hispanics three times more likely, than white borrowers to receive subprime loans making minorities' risk of foreclosure higher since subprime borrowers are more vulnerable than prime mortgage borrowers. The New York Times first reported on the center's findings on October 15, and commented on the study's racial implications in an October 17 editorial.

Read the New York Times editorial (10/17)

Read the New York Times coverage (10/15)

Read the Furman Center's analysis

Visit the Furman Center's Web site

 

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