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Author: Joseph Edward Morton
Publisher:
ISBN:
Category : Mortgages
Languages : en
Pages : 187
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Book Description
Author: Joseph Edward Morton
Publisher:
ISBN:
Category : Mortgages
Languages : en
Pages : 187
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Book Description
Author: Edward M. Gramlich
Publisher: The Urban Insitute
ISBN: 9780877667391
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
Over the past decade, a new mortgage market offering loans at low interest rates and for little or no money down has given low-income people an opportunity to pursue the American dream of homeownership. The resulting wave in home buying promised to stabilize neighborhoods and families, boost the economy, and reduce crime. In many ways, the optimists were correct, but now, less than fifteen years later, the subprime mortgage market is collapsing, threatening to take the rest of the housing sector along with it.Subprime Mortgages: America's Latest Boom and Bust analyzes how the subprime market emerged, why it is in crisis, and how we can reform public policy to avert disaster. An attendant examination of the rental market also offers recommendations for shoring up what may be the best housing option for some families.
Author: Keeanga-Yamahtta Taylor
Publisher: UNC Press Books
ISBN: 1469653672
Category : History
Languages : en
Pages : 364
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Book Description
LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD FINALIST, 2020 PULITZER PRIZE IN HISTORY By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers – as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.
Author: Joseph Edward Morton
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
Author: Raquel Rolnik
Publisher: Verso Books
ISBN: 1788731611
Category : Political Science
Languages : en
Pages : 385
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Book Description
How finance and politics have caused the global housing crisis The most comprehensive survey of the current crisis, Urban Warfare charts how the financial crisis and wider urban politics have left millions homeless and in financial desperation across the world. The financialization of housing has become a global catastrophe, leaving millions desperate and homeless. Since the 2008 financial collapse, models of home ownership, originating in the US and UK, are being exported around the world. Using examples from across the globe, Rolnik shows how our cities have been sold to construction companies and banks, while supported by government-facilitated schemes, such as “the right to buy” subsidies and micro-financing. Our homes and neighbourhoods have become the “last subprime frontiers of capitalism,” organised by those who benefit the most.
Author: Raymond Joseph Saulnier
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
Author: Eugene N. White
Publisher: University of Chicago Press
ISBN: 022609328X
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
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.
Author: Raymond Joseph Saulnier
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 216
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Book Description
Author: Thomas Sowell
Publisher: Basic Books (AZ)
ISBN: 0465018807
Category : Business & Economics
Languages : en
Pages : 194
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Book Description
Explains 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 "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Author: Ernest McKinley Fisher
Publisher:
ISBN:
Category : Mortgages
Languages : en
Pages : 0
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Book Description
