Federal Reserve Study: Subprime Didn't Increase Minority Homeownership.

Federal Reserve of Boston study of Massachusetts subprime lending is HERE.

Tip of Hat to Washington Independent; their story is HERE. Quote from report, and story:

"We show that much of the subprime lending in the state was concentrated in urban neighborhoods and that minority homeownerships created with subprime mortgages have proven exceptionally unstable in the face of rapid price declines. The evidence from Massachusetts suggests that subprime lending did not, as is commonly believed, lead to a substantial increase in homeownership by minorities, but instead generated turnover in properties owned by minority residents."