The emergence of the subprime mortgage market following the recession of 2001 made it increasingly difficult for low-income individuals to obtain a mortgage.

The emergence of the subprime mortgage market actually made it easier for low-income individuals to obtain a mortgage, albeit at higher interest rates and with greater risks. It was the collapse of the subprime market in 2007-2008 that ultimately led to a tightening of credit and difficulty in obtaining mortgages for all borrowers, including those with lower income.