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Housing and the Financial Crisis
edited by Edward L. Glaeser and Todd Sinai
University of Chicago Press, 2013
Cloth: 978-0-226-03058-6 | eISBN: 978-0-226-03061-6
Library of Congress Classification HD7293.Z9H678 2013
Dewey Decimal Classification 332.10973

ABOUT THIS BOOK | AUTHOR BIOGRAPHY | TOC | REQUEST ACCESSIBLE FILE
ABOUT THIS BOOK
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.


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