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Author : Judith Keller
Publisher : Springer Nature
Page : 231 pages
File Size : 52,8 Mb
Release : 2024-06-14
Category : Electronic
ISBN : 9783031577581
Author : Herman M. Schwartz
Publisher : Cornell University Press
Page : 280 pages
File Size : 54,5 Mb
Release : 2011-01-15
Category : Political Science
ISBN : 9780801459276
In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows. As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the U.S. S&L sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth. Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.
Author : Ashok Bardhan,Robert H. Edelstein,Cynthia A. Kroll
Publisher : John Wiley & Sons
Page : 576 pages
File Size : 51,8 Mb
Release : 2011-10-27
Category : Business & Economics
ISBN : 9781118144237
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.
Author : Franklin Allen,Glenn Yago
Publisher : FT Press
Page : 18 pages
File Size : 48,6 Mb
Release : 2010-07-14
Category : Business & Economics
ISBN : 9780132478892
This is the eBook version of the printed book. This Element is an excerpt from Financing the Future: Market-Based Innovations for Growth (9780137011278) by Franklin Allen and Glenn Yago. Available in print and digital formats. How the housing bubble really happened: an explanation that’s simple, clear, sensible, authoritative, and short! The genesis of the housing bubble emerged from the ashes of the dot-com bust. To alleviate the downturn, the Federal Reserve drastically reduced interest rates, and the era of easy credit was under way. Other nations with massive foreign reserves were drawn to invest in the U.S., and, with Treasuries offering only meager returns, they began to eye mortgage-backed securities as a “safe” vehicle offering higher yields....
Author : Institute for Policy Studies
Publisher : Boston : Routledge & Kegan Paul
Page : 302 pages
File Size : 43,5 Mb
Release : 1983
Category : Political Science
ISBN : STANFORD:36105039536953
Author : Charles L. Marohn, Jr.,Daniel Herriges
Publisher : John Wiley & Sons
Page : 247 pages
File Size : 43,6 Mb
Release : 2024-04-23
Category : Business & Economics
ISBN : 9781119984528
Housing is an investment. Investment prices must go up. Housing is shelter. When the price of shelter goes up, people experience distress. This is the housing trap. It’s time to escape. In Escaping the Housing Trap: The Strong Towns Response to the Housing Crisis, renowned urbanists Charles (Chuck) Marohn and Daniel Herriges introduce a first-of-its-kind discussion of the tension between housing as a financial product and housing as shelter. This is the key insight that’s been missing from the Housing Crisis Conversation; and the insight that can help cities fight back against the crisis from the bottom-up. This book offers a serious, yet accessible, history of housing policy in the United States and explains how it led us to this point in time: where we face a market that is rigged against people who, only a few decades ago, could have been homeowners or stable, long-term rentals. Only local change, on a neighborhood or city-wide scale, can begin to restore balance to the housing market. Escaping the Housing Trap is the must-read resource for everyone with a stake in the future of housing in America—and that means everyone. Readers will find: Discussions of housing as an investment and how the country's neighborhoods are being transformed by the introduction of large amounts of investment Explorations of housing as shelter, including discussions of zoning policy and NIMBYism A comprehensive overview of the Strong Towns approach to solving the American housing crisis
Author : Kevin Erdmann
Publisher : Rowman & Littlefield
Page : 322 pages
File Size : 41,5 Mb
Release : 2019-01-21
Category : Political Science
ISBN : 9781538122150
The United States suffers from a shortage of well-placed homes. This was true even at the peak of the housing boom in 2005. Using a broad array of evidence on housing inflation, income, migration, homeownership trends, and international comparisons, Shut Out demonstrates that high home prices have been largely caused by the constrained housing supply in a handful of magnet cities leading the new economy. The same phenomenon is occurring in leading countries across the globe. Gentrifying cities have become exclusionary bastions in the new postindustrial economy. The US housing bubble that peaked in 2005 is more accurately described as a refugee crisis than a credit bubble. Surging demand for limited urban housing triggered a spike of migration away from the magnet cities among households with moderate and lower incomes who could no longer afford to remain, causing a brief contagion of high prices in the cities where the migrants moved. In this book, author Kevin Erdmann observes that the housing bubble has been broadly and incorrectly attributed to various “excesses.” Policymakers and economists concluded that our key challenge was that we had built too many homes. This misdiagnosis of the problem, according to Erdmann, led to misguided public polices, which were the primary cause of the subsequent financial crisis. A sort of moral panic about supposed excesses in home lending and construction led to destabilizing monetary and regulatory decisions. As the economy slumped, a sense of fatalism prevented the government from responding appropriately to the worsening situation. Shut Out provides a much-needed correction to the causes and consequences of financial crises and secular stagnation.
Author : William Lucy
Publisher : Routledge
Page : 134 pages
File Size : 46,8 Mb
Release : 2017-11-08
Category : Architecture
ISBN : 9781351177986
That America entered a profound housing crisis in 2008 is well known. The wave of foreclosures that began to sweep the nation has had radical economic effects. But the force, ramifications, and implications for communities across America have never been spelled out as clearly and thoroughly as they are in this volume. As he did in Tomorrow's Cities, Tomorrow's Suburbs, the author has taken a clear-eyed and meticulous look at the latest data and found lessons that the mainstream discussion has overlooked - particularly with regard to the spatial and demographic implications of the housing crisis. The housing market did not collapse uniformly, and the pain has not been felt equally in all age groups. Planners, public officials, activists, students, and others will benefit from the author's's analysis of the real shape of the crisis, for what happens next will reflect these inequities. The author pulls no punches in this taut, readable assessment of what the crisis will mean for the shapes of our exurbs, older suburbs, and central cities.
Author : Lawrence A. Souza,Hannah Macsata,Dustin Hartuv,Joshua Martinez,Alicia Bilbrey-Becker
Publisher : Routledge
Page : 68 pages
File Size : 40,8 Mb
Release : 2021-10-04
Category : Political Science
ISBN : 9781000487640
The stirrings of reform or more of the same? U.S. Housing Policy, Politics, and Economics shares a stark and urgent message. With a new president in the White House and the economy emerging from its peak pandemic lows, the time is right for transformative federal housing legislation—but only if Congress can transcend partisan divides. Drawing on nearly a century of legislative and policy data, this briefing for scholars and professionals quantifies the effects of Democratic or Republican control of the executive and legislative branches on housing prices and policies nationwide. It exposes the lasting consequences of Congress’ more than a decade of failure to pass meaningful housing laws and makes clear just how narrow the current window for action is. Equal parts analysis and call to arms, U.S. Housing Policy, Politics, and Economics is essential reading for everyone who cares about affordable, accessible housing.
Author : M. Bruce Johnson
Publisher : Unknown
Page : 456 pages
File Size : 46,9 Mb
Release : 1982
Category : Political Science
ISBN : STANFORD:36105037408676
"Across the United States, and particularly in California, the problems of housing costs and availability have never been so acute: home ownership has become virtually inaccessible to the average person; construction costs are high and rising; housing units are in short supply; rental rates have skyrocketed; local public services are in jeopardy with government finances in disarray; and government restrictions increasingly prevent real estate growth. ; Resolving the Housing Crisis is a comprehensive treatment of the increasingly serious problems in housing and construction. Assembling the work of eighteen economists and other scholars, this volume analyzes the underlying contributing factors to the crisis, the responses in land use, housing, and construction policies, and the interaction between the crisis and the legal status of property rights. As a result of this assessment, the authors argue for substantial regulatory housing and land use reforms"--Jacket.
Author : Singchou Wu
Publisher : AuthorHouse
Page : 231 pages
File Size : 40,5 Mb
Release : 2020-11-09
Category : Law
ISBN : 9781665504478
The author came to the US in 1962 from Taiwan and worked for $1 an hour while federal minimum wage was $1.15 an hour. By 1969, he got a Master of Science Degree, a Ph.D. in Statistics and a teaching job at California Polytechnic State University in San Luis Obispo, CA. He bought his first house in October 1972 in the town. He predicted that housing prices in California would rise rapidly, as he and his wife quickly jumped into housing business. By 1979 they built two apartments, got California Building Contractor License and owned many rental housing units. The rising house prices made them instant millionaires. He explains why the US has turned from a land of opportunity for everyone into a land of desperation for many. He explains how to get back to the good old days, bring back America, the land of opportunity.
Author : Aaron Clarey
Publisher : Booksurge Publishing
Page : 330 pages
File Size : 50,7 Mb
Release : 2008
Category : Business & Economics
ISBN : UOM:49015003469468
Corrupt bankers, FBI investigations, IRS raids, offshore bank accounts and more as an insider exposes those responsible for the housing crisis and explains what's in store for the rest of us.
Author : Peter Marcuse,David Madden
Publisher : Verso Books
Page : 240 pages
File Size : 45,6 Mb
Release : 2016-08-16
Category : Political Science
ISBN : 9781784783563
In every major city in the world there is a housing crisis. How did this happen and what can we do about it? Everyone needs and deserves housing. But today our homes are being transformed into commodities, making the inequalities of the city ever more acute. Profit has become more important than social need. The poor are forced to pay more for worse housing. Communities are faced with the violence of displacement and gentrification. And the benefits of decent housing are only available for those who can afford it. In Defense of Housing is the definitive statement on this crisis from leading urban planner Peter Marcuse and sociologist David Madden. They look at the causes and consequences of the housing problem and detail the need for progressive alternatives. The housing crisis cannot be solved by minor policy shifts, they argue. Rather, the housing crisis has deep political and economic roots—and therefore requires a radical response.
Author : S. Phang
Publisher : Springer
Page : 217 pages
File Size : 44,9 Mb
Release : 2013-02-06
Category : Business & Economics
ISBN : 9781137014030
The term 'housing crisis' has recently been associated with rising foreclosure rates and tottering financial institutions, particularly in the US and Europe. However, in many emerging countries, the housing crisis is about urban poverty, unplanned settlements, overcrowded slums and homelessness.
Author : Hilliard MacBeth
Publisher : Dundurn
Page : 272 pages
File Size : 54,8 Mb
Release : 2018-06-23
Category : Business & Economics
ISBN : 9781459742048
Hilliard MacBeth argues that investors should stop thinking about real estate as a safe investment, warning that it is only a matter of time before Canada faces a housing crisis of major proportions. He guides investors towards safer and more lucrative investments in order to protect their assets and ensure a comfortable retirement.