This report has been
done on a local level through the use of extensive field based
interviews. Significant findings are that there is sufficient
affordable housing inventory in the present and for the next ten
years; there is much interest in home ownership by non-homeowners
and much is being done by developers and the mortgage loan industry;
Affordable housing is being marketed and mortgage loans being made
to a population that is rather shaky in its financial stability;
Brownsville’s pool of potential homebuyers is comprised of very
uninformed and misinformed families that have not being sufficiently
educated to fully understand homeownership. An accompanying issue is
whether these families will be able to maintain a housing debt
burden of less than the recommended 30% if major catastrophic
conditions were to emerge in their lives. A possible outcome may be
that a ring of affordable housing may eventually surround
Brownsville, which encloses an inventory of decaying, substandard
and dilapidated homes in the older neighborhoods of this city.
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Brownsville, Texas 78520