A New Analysis of Subprime Lending Data Finds Signs of Trouble for New York City’s Homeowners
On October 15, 2007, the Furman Center released a summary of the findings from the 2006 HMDA data which was covered in the New York Times. Our analysis also examines the neighborhood demographics of areas with the highest and lowest rates of subprime lending, and evaluates the rates of subprime lending by the race of the borrower. We also look at the rates of subprime lending and demographics for each borough and its communities: the Bronx; Brooklyn; Manhattan; Queens; and Staten Island.
This initial analysis is part of the Furman Center’s larger research agenda on homeownership challenges facing New Yorkers, which includes examining access to credit and the impacts of foreclosures on New York City neighborhoods. The Furman Center will be releasing reports on these topics later this fall.