Housing and mortgage markets in historical perspective / Eugene N. White, Kenneth Snowden, Price V. Fishback.

Format:

Book

Contributor:

Fishback, Price Van Meter, Editor.

Snowden, Kenneth, Editor.

White, Eugene N., Editor.

Series:

National Bureau of Economic Research conference report.

National Bureau of Economic Research Conference Report

Language:

English

Subjects (All):

Residential real estate--United States--History.

Residential real estate.

Housing--Prices--United States--History.

Housing.

Mortgage loans--United States--History.

Mortgage loans.

Housing policy--United States--History.

Housing policy.

Physical Description:

1 online resource (408 p.)

Place of Publication:

Chicago : University of Chicago Press, [2014]

Language Note:

English

Summary:

The central role of the housing market in the recent recession raised a series of questions about similar episodes throughout economic history. Were the underlying causes of housing and mortgage crises the same in earlier episodes? Has the onset and spread of crises changed over time? How have previous policy interventions either damaged or improved long-run market performance and stability? This volume begins to answer these questions, providing a much-needed context for understanding recent events by examining how historical housing and mortgage markets worked-and how they sometimes failed. Renowned economic historians Eugene N. White, Kenneth Snowden, and Price Fishback survey the foundational research on housing crises, comparing that of the 1930s to that of the early 2000s in order to authoritatively identify what contributed to each crisis. Later chapters explore notable historical experiences with mortgage securitization and the role that federal policy played in the surge in home ownership between 1940 and 1960. By providing a broad historical overview of housing and mortgage markets, the volume offers valuable new insights to inform future policy debates.

Contents:

Frontmatter

Relation of the Directors to the Work and Publications of the National Bureau of Economic Research

Contents

Acknowledgments

Introduction

1. A Historiography of Early NBER Housing and Mortgage Research

2. The Interwar Housing Cycle in the Light of 2001-2012: A Comparative Historical Perspective

3. Consumption and Investment Booms in the 1920s and Their Collapse in 1930

4. Lessons from the Great American Real Estate Boom and Bust of the 1920s

5. The 1920s American Real Estate Boom and the Downturn of the Great Depression: Evidence from City Cross- Sections

6. New Multicity Estimates of the Changes in Home Values, 1920-1940

7. The Prolonged Resolution of Troubled Real Estate Lenders during the 1930s

8. Dutch Securities for American Land Speculation in the Late Eighteenth Century

9. Lending to Lemons: Landschaft Credit in Eighteenth- Century Prussia

10. The Twentieth- Century Increase in US Home Ownership: Facts and Hypotheses

11. Did Housing Policies Cause the Postwar Boom in Home Ownership?

Contributors

Author Index

Subject Index

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes at the end of each chapters.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2020)

ISBN:

0-226-09328-X

OCLC:

883632085