```json
{
	"no": ["yes"], 
	"yes": ["no"]
}
```

From the given information, it can be inferred that clients who have a housing loan do not subscribe to a term deposit (`housing: yes` corresponds to the target class `no`). On the other hand, clients who do not have a housing loan are more likely to subscribe to a term deposit (`housing: no` corresponds to the target class `yes`).

Please note that other values of the housing feature that are not mentioned in the dictionary may exist, but based on the given information, it is not necessary to include them in the dictionary.