The boom and bust in housing markets defined the opening decade of the 21st century. Sharp declines in house prices served as a catalyst for the 2007 meltdown in mortgage and capital markets and the downturn in the global economy. The past decade also witnessed a dramatic boom and bust in homeownership. In [...]
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Posted on July 21st, 2011
Posted on May 31st, 2010
Not since the Great Depression has there been a contraction in the U.S. housing market of such scale. With much attention given already to complex mortgage securities, their risks and impacts on financial markets, this study examines the underlying loan manufacturing process that greatly contributed to excessive risk building across portfolios and mortgage [...] Posted on May 17th, 2010
The current financial and economic crisis has been characterized as the worst since the Great Depression. While the crisis may be bottoming out, its effects may linger for quite some time. After all, the Great Depression left an entire generation of Americans scarred by their experiences. Times were good, the stock market was [...] Posted on April 23rd, 2010
The present economic downturn has been, by many measures, the most severe since the Great Depression. The housing market has been buffeted by large declines in real house prices, caused in part by the collapse of the housing finance system and by continued job losses. While the difficulties in the housing market are [...] 1 pages
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