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Housing and the Financial Crisis
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Housing and the Financial Crisis

Edward L. Glaeser and Todd Sinai

Abstract

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. This book 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 av ... More

Keywords: housing prices, housing market, homeowners, housing boom, bust, credit, risk reduction, securitization

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780226030586
Published to Chicago Scholarship Online: January 2014 DOI:10.7208/chicago/9780226030616.001.0001

Authors

Affiliations are at time of print publication.

Edward L. Glaeser, author

Todd Sinai, author

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Contents

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Postmortem for a Housing Crash

Edward L. Glaeser and Todd Sinai

2 The Supply Side of the Housing Boom and Bust of the 2000s

Andrew Haughwout, Richard W. Peach, John Sporn, and Joseph Tracy

4 Mortgage Financing in the Housing Boom and Bust

Benjamin J. Keys, Tomasz Piskorski, Amit Seru, and Vikrant Vig

5 A New Look at Second Liens

Donghoon Lee, Christopher Mayer, and Joseph Tracy

6 International Capital Flows and House Prices

Jack Favilukis, David Kohn, Sydney C. Ludvigson, and Stijn Van Nieuwerburgh

7 Can Cheap Credit Explain the Housing Boom?

Edward L. Glaeser, Joshua D. Gottlieb, and Joseph Gyourko

8 The Future of the Government-Sponsored Enterprises

Dwight Jaffee and John M. Quigley