The Housing Finance Revolution

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Richard K. Green; Susan M. Wachter;
  • Subject: Real Estate, mortgages, Housing, capital markets, securitization, mortgage security infrastructure, Liquidity, subprime mortgage-backed securities, MBS, marked to model, systemic underpricing of risk, speculation, pricing of risks, default risk, underpriced credit | Housing ; Housing - Prices ; Mortgages

While other countries dismantled their segmented housing finance systems and linked housing finance to capital markets through deregulated depositories, the US linked housing finance to capital markets through depository deregulation and securitization. Elsewhere securi... View more
  • References (3)

    1980 1983 1986 1989 1992 1995 1998 2001 2004 Year Sources: Bank for International Settlements House Price Index, Interest Data from U.N. Statistical Database Organisation for Economic Co-operation and Development. “2005. Consumer Price Indices for OECD Countries ( March.

    Wachter, Susan, 1990. “The Limits of the Housing Finance System.” Journal of Housing Research 1(1):163-174.

    Wachter, Susan, 2003. “Price Revelation and Efficient Mortgage Markets,” Law Review, Vol. 88(2):413-419.

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