Opportunity to buy their own homes
Indeed, the US is currently experiencing the highest level of homeownership and unfortunately the highest level of foreclosures, in its history. More families own a home today than at any point in US history. This is in part thanks to the Sub-Prime industry, and many of these people would NOT have had the opportunity to buy their own homes before without it.
Statistically, 1 in every 70 sub prime loans is in arrears, and whilst that is high, we can look at it another way: 69 out of every 70 sub prime borrowers are not in arrears and they are now homeowners. These are families that previously could only rent, but they are now living the -American Dream-. We are certainly not suggesting that Sub-Prime did not have problems. It certainly did. But we need to accept that the sub prime market was also a key factor in this recent boom in homeownership.
Our hearts go out to everybody touched by this very sad issue. Investors given up, companies have closed, and borrowers have been left with un-funded loans. Unfortunately the damage is widespread.