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2010 |
5/26/2010
Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future »
Author:
Clifford V. Rossi
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Not since the Great Depression has there been a contraction in the U.S. housing market of such scale. With much attention given already to complex mortgage securities, their risks and impacts on financial markets, this study examines the underlying loan manufacturing process that greatly
contributed to excessive risk building across portfolios and mortgage securities alike. Particular attention is focused on the dynamics behind risk taking within mortgage firms leading up to the collapse in housing in or... Open PDF »
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5/10/2010
Household Reaction to the Financial Crisis: Scared or Scarred? »
Author:
Joe Peek
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The current financial and economic crisis has been characterized as the worst since the Great Depression. While the crisis may be bottoming out, its effects may linger for quite some time. After all, the Great Depression left an entire generation of Americans scarred by their experiences.
Times were good, the stock market was booming, and then suddenly it all fell apart. The stock market collapsed, firms went bankrupt, jobs disappeared, large numbers of banks failed and confidence in the economy withered... Open PDF »
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4/7/2010
What Happens to Household Formation in a Recession »
Author:
Gary Painter
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The present economic downturn has been, by many measures, the most severe since the Great Depression. The housing market has been buffeted by large declines in real house prices, caused in part by the collapse of the housing finance system and by continued job losses. While the difficulties in the housing market are nationwide, some areas have experienced much steeper declines in home prices and overall housing market activity. The national homeownership rate has declined from a peak above 69 percent to j... Open PDF »
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