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Article: A Look at Rental Housing.
- Article from:
- National Mortgage News
- Article date:
- December 8, 2003
- Author:
CopyrightCOPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Gov. Gramlich recently spoke at a meeting on rental housing hosted by the MacArthur Foundation in Washington. Excerpts of his remarks are presented as our Open Forum.
When Americans think of housing, they usually think of homeownership. Spending on largely owner-occupied, single-family units has increased smartly in recent years, and has been one of the factors preventing the economic slowdown from being worse than it has been. This spending has been supported in no small way by a revolution in mortgage credit markets, extending subprime credit much further down the income scale.
The extension has not been free of problems - the Federal Reserve now ...