WASHINGTON (Reuters) - The impact of the housing crisis is landing hardest among the nation’s poorest home owners, a study by a public interest advocacy group has found.
Initial estimates by the government and private researchers showed that subprime-related loans were clustered heavily in a handful of states.
The new report from the Bread for the World Institute released late on Wednesday finds that poorer areas within those states are being hit hardest.
“Where there is a pocket of poverty, you can be sure there is a high rate of subprime lending,” said David Beckmann, president of the institute. “Our country’s poorest areas are …
