Details about this story

• Source: New York Times
• Date: December 06, 2006
• URL: Read the story
• Bylines: Vikas Bajaj , Ron Nixon
• Topics: Real Estate , Demographics
• Data Types: Federal Data
• Description/Excerpt: In the housing boom of the last six years, millions of blacks, Hispanics and members of other minority groups achieved the dream of homeownership. While a steadily growing economy helped, experts say a new breed of high-cost home loans deserved much of the credit. Delinquencies and foreclosures, though still low by historical standards, are rising fastest among these borrowers, a group that is commonly referred to as subprime because they have troubled credit records or otherwise have difficulty obtaining a mortgage. There were almost six millions such loans outstanding at the end of June.