Researchers assert that improved income levels since 1994 were more driven by welfare transfers than labour market absorption. Up to 2005, growth in employment largely tracked real GDP growth, albeit at a less than sufficient pace to meet the  3  Steve Bantu Biko Memorial Lecture, delivered by Archbishop Emeritus Desmond Tutu, University of Cape Town, 26 September 2006.
Such legislation could help the FHA reach a wider range of borrowers and develop appropriate underwriting and pricing methodologies to deal with any increase in credit risk. Giving the FHA greater latitude to set underwriting standards and risk-based premiums for mortgage refinancing, as well as more flexibility in product development, would allow it to help still more troubled borrowers.