Interesting point; “When the economy slowed, defaults went up across income spectrums. But while the chance of a low-income borrower defaulting increased from

Interesting point; “When the economy slowed, defaults went up across income spectrums. But while the chance of a low-income borrower defaulting increased from 6 percent pre-crisis to 12 percent post-crisis, the chance of a high-income borrower defaulting went from almost zero to around 5 or 6 percent. And the latter group was defaulting on bigger loans.” [1] I think the homeownership rate over time also tells a story, but perhaps this is dwarfed by the rate of sales and the collapse of prices causing ~25% of houses to actually be underwater. However if you look at Mortgage Origination by Risk Score over time [2] and Debt-to-Income ratio over time [3] there is truth to the claim that the overall portfolio of homeowners also changed in the lead up to the crisis. [1] - https://mitsloan.mit.edu/ideas-made-to-matter/rethinking-how-housing-crisis-happened https://mitsloan.mit.edu/ideas-made-to-matter/rethinking-how... [2] - https://infogram.com/1pwez02vj1mld0fvlzvmn3r1k9s9y7x5zgp https://infogram.com/1pwez02vj1mld0fvlzvmn3r1k9s9y7x5zgp [3] - https://infogram.com/1pk6ve560vyl93c97kvpwy5dymt3kz1rd5g https://infogram.com/1pk6ve560vyl93c97kvpwy5dymt3kz1rd5g