Jimmy Carter: subprime loan crisis likely to boost Habitat work

The former president, long active with low-income sweat-equity housing builder Habitat for Humanity, expects the agency’s business to pick up with the subprime home mortgage crisis. And the executive director agrees.

Housing analysts predict between 1 million and 3 million U.S. homes will be foreclosed upon in 2007.

“We have more people that are going to need our program, and the need is just going to grow even greater,” said Erin Rank, chief executive of Habitat for Humanity of Greater Los Angeles, where the average cost of a home is now $550,000.

Hmm. Habitat may rise from its current spot as the 18th-largest homebuilder.