Changing the Rules : State Mortgage Foreclosure Moratoria During the Great Depression / David C. Wheelock.

Format:

Datafile

Contributor:

Inter-university Consortium for Political and Social Research.

Series:

ICPSR (Series) ; 24542.

ICPSR ; 24542

Language:

English

Physical Description:

1 online resource.

Place of Publication:

Ann Arbor, Mich. : Inter-university Consortium for Political and Social Research [distributor], 2009.

System Details:

Mode of access: World Wide Web.

data file

Summary:

Many U.S. states imposed temporary moratoria on farm and nonfarm residential mortgage foreclosures during the Great Depression. This article describes the conditions that led some states to impose these moratoria and other mortgage relief during the Depression and discusses the economic effects. Moratoria were more common in states with large farm populations (as a percentage of total state population) and high farm mortgage foreclosure rates, although nonfarm mortgage distress appears to help explain why a few states with relatively low farm foreclosure rates also imposed moratoria. The moratoria reduced farm foreclosure rates in the short run, but they also appear to have reduced the supply of loans and made credit more expensive for subsequent borrowers. The evidence from the Great Depression demonstrates how government actions to reduce foreclosures can impose costs that should be weighed against potential benefits.

Contents:

Part 1: Changing the Rules: State Mortgage Foreclosure Moratoria During the Great Depression

Notes:

Title from ICPSR DDI metadata of 2009-04-22.

OCLC:

436449781

Access Restriction:

Restricted for use by site license.