Housing And Mortgage Markets In Historical Perspective

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Housing and Mortgage Markets in Historical Perspective

Eugene N. White,Kenneth Snowden,Price Fishback
Housing and Mortgage Markets in Historical Perspective Book PDF

Author : Eugene N. White,Kenneth Snowden,Price Fishback
Publisher : University of Chicago Press
Page : 408 pages
File Size : 45,9 Mb
Release : 2014-10-17
Category : Business & Economics
ISBN : 9780226093284

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Housing and Mortgage Markets in Historical Perspective by Eugene N. White,Kenneth Snowden,Price Fishback Pdf

The central role of the housing market in the recent recession raised a series of questions about similar episodes throughout economic history. Were the underlying causes of housing and mortgage crises the same in earlier episodes? Has the onset and spread of crises changed over time? How have previous policy interventions either damaged or improved long-run market performance and stability? This volume begins to answer these questions, providing a much-needed context for understanding recent events by examining how historical housing and mortgage markets worked—and how they sometimes failed. Renowned economic historians Eugene N. White, Kenneth Snowden, and Price Fishback survey the foundational research on housing crises, comparing that of the 1930s to that of the early 2000s in order to authoritatively identify what contributed to each crisis. Later chapters explore notable historical experiences with mortgage securitization and the role that federal policy played in the surge in home ownership between 1940 and 1960. By providing a broad historical overview of housing and mortgage markets, the volume offers valuable new insights to inform future policy debates.

The Housing Boom and Bust

Thomas Sowell
The Housing Boom and Bust Book PDF

Author : Thomas Sowell
Publisher : Hachette UK
Page : 256 pages
File Size : 47,7 Mb
Release : 2010-02-23
Category : Business & Economics
ISBN : 9780786747559

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The Housing Boom and Bust by Thomas Sowell Pdf

This is a plain-English explanation of how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and the even more "creative" marketing of financial securities based on American mortgages to countries around the world, are part of the story of how a financial house of cards was built up -- and then suddenly collapsed. The politics behind all this is another story full of strange twists. No punches are pulled when discussing politicians of either party, the financial dangers they created, or the distractions they created later to escape their own responsibility for what happened when the financial house of cards in the financial markets collapsed. What to do, now that we are in the midst of an economic disaster, is yet another story -- one whose ending we do not yet know, but one whose outlines and implications are explored to reveal some surprising and sobering lessons.

Housing Economics

Geoffrey Meen,Kenneth Gibb,Chris Leishman,Christian Nygaard
Housing Economics Book PDF

Author : Geoffrey Meen,Kenneth Gibb,Chris Leishman,Christian Nygaard
Publisher : Springer
Page : 313 pages
File Size : 50,6 Mb
Release : 2016-04-29
Category : Business & Economics
ISBN : 9781137472717

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Housing Economics by Geoffrey Meen,Kenneth Gibb,Chris Leishman,Christian Nygaard Pdf

The world has still to emerge fully from the housing-triggered Global Financial Crisis, but housing crises are not new. The history of housing shows long-run social progress, littered with major disasters; nevertheless the progress is often forgotten, whilst the difficulties hit the headlines. Housing Economics provides a long-term economic perspective on macro and urban housing issues, from the Victorian era onwards. A historical perspective sheds light on modern problems and the constraints on what can be achieved; it concentrates on the key policy issues of housing supply, affordability, tenure, the distribution of migrant communities, mortgage markets and household mobility. Local case studies are interwoven with city-wide aggregate analysis. Three sets of issues are addressed: the underlying reasons for the initial establishment of residential neighbourhoods, the processes that generate growth, decline and patterns of integration/segregation, and the impact of historical development on current problems and the implications for policy.

Fixing the Housing Market

Franklin Allen,James R. Barth,Glenn Yago
Fixing the Housing Market Book PDF

Author : Franklin Allen,James R. Barth,Glenn Yago
Publisher : Pearson Prentice Hall
Page : 214 pages
File Size : 43,6 Mb
Release : 2012
Category : Business & Economics
ISBN : 9780137011605

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Fixing the Housing Market by Franklin Allen,James R. Barth,Glenn Yago Pdf

Explains the financial history leading to the mortgage meltdown and assesses today's housing finance systems in the United States and abroad.

Global Housing Markets

Ashok Bardhan,Robert H. Edelstein,Cynthia A. Kroll
Global Housing Markets Book PDF

Author : Ashok Bardhan,Robert H. Edelstein,Cynthia A. Kroll
Publisher : John Wiley & Sons
Page : 576 pages
File Size : 41,7 Mb
Release : 2011-10-27
Category : Business & Economics
ISBN : 9781118144237

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Global Housing Markets by Ashok Bardhan,Robert H. Edelstein,Cynthia A. Kroll Pdf

A global look at the reasons behind the recent economic collapse, and the responses to it The speculative bubble in the housing market began to burst in the United States in 2007, and has been followed by ruptures in virtually every asset market in almost every country in the world. Each country proposed a range of policy initiatives to deal with its crisis. Policies that focused upon stabilizing the housing market formed the cornerstone of many of these proposals. This internationally focused book evaluates the genesis of the housing market bubble, the global viral contagion of the crisis, and the policy initiatives undertaken in some of the major economies of the world to counteract its disastrous affects. Unlike other books on the global crisis, this guide deals with the housing sector in addition to the financial sector of individual economies. Countries in many parts of the world were players in either the financial bubble or the housing bubble, or both, but the degree of impact, outcome, and responses varied widely. This is an appropriate time to pull together the lessons from these various experiences. Reveals the housing crisis in the United States as the core of the meltdown Describes the evolution of housing markets and policies in the run-up to the crisis, their impacts, and the responses in European and Asian countries Compares experiences and linkages across countries and points to policy implications and research lessons drawn from these experiences Filled with the insights of well-known contributors with strong contacts in practice and academia, this timely guide discusses the history and evolution of the recent crisis as local to each contributor's part of the world, and examines its distinctive and common features with that of the U.S., the trajectory of its evolution, and the similarities and differences in policy response.

Relationships Between the Mortgage Instrument, the Demand for Housing and Mortgage Credit

J Kearl
Relationships Between the Mortgage Instrument the Demand for Housing and Mortgage Credit Book PDF

Author : J Kearl
Publisher : Forgotten Books
Page : 144 pages
File Size : 43,8 Mb
Release : 2018-03-05
Category : Electronic
ISBN : 0332798720

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Relationships Between the Mortgage Instrument, the Demand for Housing and Mortgage Credit by J Kearl Pdf

Excerpt from Relationships Between the Mortgage Instrument, the Demand for Housing and Mortgage Credit: A Review of Empirical Studies Section III reviews the results of Task II and develops a general framework for analyzing housing and mortgage markets. This discussion is necessary since much of the existing literature lacks a cohesive theoretical framework and does not deal directly with some of the proposed alterations of the existing mortgage instruments. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Introduction to Mortgages and Mortgage Backed Securities

Richard K. Green
Introduction to Mortgages and Mortgage Backed Securities Book PDF

Author : Richard K. Green
Publisher : Academic Press
Page : 249 pages
File Size : 54,7 Mb
Release : 2013-11-21
Category : Business & Economics
ISBN : 9780124045934

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Introduction to Mortgages and Mortgage Backed Securities by Richard K. Green Pdf

In Introduction to Mortgages & Mortgage Backed Securities, author Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. After a behavioral economics chapter on the nature of real estate decisions, he explores mortgage products, processes, derivatives, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments. Written for buyers of real estate, not mortgage lenders Balances theory with increasingly complex practices of commercial and residential mortgage lending Emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making

Well Worth Saving

Price V. Fishback,Jonathan Rose,Kenneth Snowden
Well Worth Saving Book PDF

Author : Price V. Fishback,Jonathan Rose,Kenneth Snowden
Publisher : University of Chicago Press
Page : 190 pages
File Size : 45,6 Mb
Release : 2013-10-04
Category : Business & Economics
ISBN : 9780226082585

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Well Worth Saving by Price V. Fishback,Jonathan Rose,Kenneth Snowden Pdf

The urgent demand for housing after World War I fueled a boom in residential construction that led to historic peaks in home ownership. Foreclosures at the time were rare, and when they did happen, lenders could quickly recoup their losses by selling into a strong market. But no mortgage system is equipped to deal with credit problems on the scale of the Great Depression. As foreclosures quintupled, it became clear that the mortgage system of the 1920s was not up to the task, and borrowers, lenders, and real estate professionals sought action at the federal level. Well Worth Saving tells the story of the disastrous housing market during the Great Depression and the extent to which an immensely popular New Deal relief program, the Home Owners’ Loan Corporation (HOLC), was able to stem foreclosures by buying distressed mortgages from lenders and refinancing them. Drawing on historical records and modern statistical tools, Price Fishback, Jonathan Rose, and Kenneth Snowden investigate important unanswered questions to provide an unparalleled view of the mortgage loan industry throughout the 1920s and early ’30s. Combining this with the stories of those involved, the book offers a clear understanding of the HOLC within the context of the housing market in which it operated, including an examination of how the incentives and behaviors at play throughout the crisis influenced the effectiveness of policy. More than eighty years after the start of the Great Depression, when politicians have called for similar programs to quell the current mortgage crisis, this accessible account of the Home Owners’ Loan Corporation holds invaluable lessons for our own time.

Relationships Between the Mortgage Instrument, the Demand for Housing and Mortgage Credit

James Russell Kearl,Kenneth T Rosen,Craig Swan
Relationships Between the Mortgage Instrument the Demand for Housing and Mortgage Credit Book PDF

Author : James Russell Kearl,Kenneth T Rosen,Craig Swan
Publisher : Legare Street Press
Page : 0 pages
File Size : 53,7 Mb
Release : 2023-07-18
Category : Electronic
ISBN : 1021437042

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Relationships Between the Mortgage Instrument, the Demand for Housing and Mortgage Credit by James Russell Kearl,Kenneth T Rosen,Craig Swan Pdf

This book provides a comprehensive review of empirical studies on the relationships between the mortgage instrument, the demand for housing, and mortgage credit. The authors examine various aspects of these relationships, including the determinants of mortgage demand, the impact of mortgage credit on property values, and the role of government policies in shaping mortgage markets. This is a must-read for anyone interested in understanding the workings of the mortgage market and its impact on the wider economy. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Housing and the Financial Crisis

Edward L. Glaeser,Todd Sinai
Housing and the Financial Crisis Book PDF

Author : Edward L. Glaeser,Todd Sinai
Publisher : University of Chicago Press
Page : 443 pages
File Size : 54,8 Mb
Release : 2013-08-19
Category : Business & Economics
ISBN : 9780226030616

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Housing and the Financial Crisis by Edward L. Glaeser,Todd Sinai Pdf

Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.

Mortgage Market (RLE Banking & Finance)

Mark J Boleat
Mortgage Market RLE Banking Finance Book PDF

Author : Mark J Boleat
Publisher : Routledge
Page : 194 pages
File Size : 48,5 Mb
Release : 2012-05-31
Category : Business & Economics
ISBN : 9781136272998

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Mortgage Market (RLE Banking & Finance) by Mark J Boleat Pdf

Beginning with a theoretical analysis of housing finance in the context of housing markets and financial intermediation generally, the authors then analyse, drawing on international experience, each of the main types of housing finance system: informal, deposit taking, contract and mortgage bank. Various aspects of the market are covered using examples drawn from the UK and elsewhere, including the regulatory framework, contemporary developments and securitization and secondary markets. Critical public policy issues, such as housing and the real economy, and housing subsidies, are analysed in detail. Finally the authors examine the future for housing and the housing finance market.

Mortgage Markets Worldwide

Danny Ben-Shahar,Charles Leung,Seow-Eng Ong
Mortgage Markets Worldwide Book PDF

Author : Danny Ben-Shahar,Charles Leung,Seow-Eng Ong
Publisher : Wiley-Blackwell
Page : 0 pages
File Size : 41,7 Mb
Release : 2008-06-09
Category : Business & Economics
ISBN : 1405132108

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Mortgage Markets Worldwide by Danny Ben-Shahar,Charles Leung,Seow-Eng Ong Pdf

The book provides a theoretical and empirical evaluation of different housing finance systems, presenting a collection of studies that describe various aspects of selected mortgage markets around the world. The uniqueness of the chosen markets lies in the fact that they represent not only different regions around the globe (Africa, the Middle East, Asia, and Eastern Europe), but also understudied markets in different stages of economic and financial development. This book examines questions relating to housing finance efficiency and contract heterogeneity. In addition, it analyses the securitization experiences in these countries to provide lessons on how mortgage markets are integrated with capital markets and how particular institutional framework interacts with mortgage markets. Short reviews are provided for each of the selected mortgage markets. The review will include institutional aspects of the markets such as: the size and structure of the market (including flows and accumulation of funds); a description of the competition and a presentation of the major competitors (including market share, major financial measures, etc.); profitability in the market, trends, structural changes, the major mortgage instruments and their market share, special tax issues, the role of the government in the market, defaults, prepayments, mortgage insurance, and major regulatory issues. The analysis explores the major existing problems in the mortgage market of each country, the current steps adopted to solve these problems, possible propositions for dealing with the major issues in the future, and the implied future developments anticipated in the market.

Subprime Cities

Manuel B. Aalbers
Subprime Cities Book PDF

Author : Manuel B. Aalbers
Publisher : John Wiley & Sons
Page : 361 pages
File Size : 48,6 Mb
Release : 2012-01-19
Category : Political Science
ISBN : 9781444347432

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Subprime Cities by Manuel B. Aalbers Pdf

Subprime Cities: The Political Economy of Mortgage Markets presents a collection of works from social scientists that offer insights into mortgage markets and the causes, effects, and aftermath of the recent 'subprime' mortgage crisis. Provides an even-handed and detailed analysis of mortgage markets and the recent housing crisis Features contributions from various social scientists with expertise in critical social theories who have assembled and analyzed detailed empirical information Offers a unique and powerful rebuttal to many of the misleading popular explanations of the crisis and its aftermath Reveals how racial minorities and the neighbourhoods inhabited by them are more likely to be targeted by subprime and predatory lenders

The Oxford Handbook of American Economic History Volume 2

Edited by Louis P. Cain,Edited by Price V. Fishback,Edited by Paul W. Rhode
The Oxford Handbook of American Economic History Volume 2 Book PDF

Author : Edited by Louis P. Cain,Edited by Price V. Fishback,Edited by Paul W. Rhode
Publisher : Oxford University Press
Page : 551 pages
File Size : 42,9 Mb
Release : 2018-06-15
Category : Business & Economics
ISBN : 9780197575987

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The Oxford Handbook of American Economic History Volume 2 by Edited by Louis P. Cain,Edited by Price V. Fishback,Edited by Paul W. Rhode Pdf

American economic history describes the transition of a handful of struggling settlements on the Atlantic seaboard into the nation with the most successful economy in the world today. As the economy has developed, so have the methods used by economic historians to analyze the process. Interest in economic history has sharply increased in recent years among the public, policy-makers, and in the academy. The current economic turmoil, calling forth comparisons with the Great Depression of the 1930s, is in part responsible for the surge in interest among the public and in policy circles. It has also stimulated greater scholarly research into past financial crises, the multiplier effects of fiscal and monetary policy, the dynamics of the housing market, and international economic cooperation and conflict. Other pressing policy issues--including the impending retirement of the Baby-Boom generation, the ongoing expansion of the healthcare sector, and the environmental challenges imposed by global climate change--have further increased demand for the long-run perspective given by economic history. Confronting this need, The Oxford Handbook of American Economic History affords access to the latest research on the crucial events, themes, and legacies of America's economic history--from colonial America, to the Civil War,up to present day. More than fifty contributors address topics as wide-ranging as immigration, agriculture, and urbanization. Over its two volumes, this handbook gives readers not only a comprhensive look at where the field of American economic history currently stands but where it is headed in the years to come.

The Oxford Handbook of American Economic History

Edited by Louis P. Cain,Edited by Price V. Fishback,Edited by Paul W. Rhode
The Oxford Handbook of American Economic History Book PDF

Author : Edited by Louis P. Cain,Edited by Price V. Fishback,Edited by Paul W. Rhode
Publisher : Oxford University Press
Page : 640 pages
File Size : 52,7 Mb
Release : 2018-06-15
Category : Business & Economics
ISBN : 9780190937072

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The Oxford Handbook of American Economic History by Edited by Louis P. Cain,Edited by Price V. Fishback,Edited by Paul W. Rhode Pdf

American economic history describes the transition of a handful of struggling settlements on the Atlantic seaboard into the nation with the most successful economy in the world today. As the economy has developed, so have the methods used by economic historians to analyze the process. Interest in economic history has sharply increased in recent years among the public, policy-makers, and in the academy. The current economic turmoil, calling forth comparisons with the Great Depression of the 1930s, is in part responsible for the surge in interest among the public and in policy circles. It has also stimulated greater scholarly research into past financial crises, the multiplier effects of fiscal and monetary policy, the dynamics of the housing market, and international economic cooperation and conflict. Other pressing policy issues--including the impending retirement of the Baby-Boom generation, the ongoing expansion of the healthcare sector, and the environmental challenges imposed by global climate change--have further increased demand for the long-run perspective given by economic history. Confronting this need, The Oxford Handbook of American Economic History affords access to the latest research on the crucial events, themes, and legacies of America's economic history--from colonial America, to the Civil War,up to present day. More than fifty contributors address topics as wide-ranging as immigration, agriculture, and urbanization. Over its two volumes, this handbook gives readers not only a comprhensive look at where the field of American economic history currently stands but where it is headed in the years to come.