from the Federal Reserve Bank of Chicago
Nearly a third of all families purchasing new homes in 2006 obtained a mortgage from a financing company owned by or affiliated with a large homebuilder. Eighty percent of these loans were made by financing companies associated with one of the ten largest homebuilders in the country. In addition to accounting for a large share of new home sales and financing, homebuilders were particularly active in areas of the country where the subprime crisis was most acute (Arizona, California, Florida, and Nevada).
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