The Great American Housing Bubble: What Went Wrong and How We Can Protect Ourselves in the Future

ISBN-13: 9780674979659 / Angielski / Twarda / 2020 / 400 str.

Adam J. Levitin; Susan M. Wachter

Opis

Adam Levitin and Susan Wachter argue that the housing bubble of the 2000s was caused by private-label securitization. Competition among Wall Street banks set off a race to the bottom in mortgage underwriting that inflated home prices but yielded huge profits before the bubble burst. To avoid deja vu, we need carefully regulated securitization.