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- Title
The Sociology and Geography of Mortgage Markets: Reflections on the Financial Crisis.
- Authors
AALBERS, MANUEL B.
- Abstract
The article presents a symposium discussion assessing the role the sociological and geographical aspects of the mortgage market played in the 2008 financial crisis. Combinations of interrelated causes of the global financial crisis include deregulation and re-regulation, financialization and globalization, and bubbles and wrong incentives. The various ways the mortgage market is shaped and reshaped by both mortgage lenders and state institutions is examined. It is stressed that mortgage loan securitization is largely an invention of government and government erected institutions such as Fannie Mae and Freddie Mac.
- Subjects
MORTGAGE loan servicing; GLOBAL Financial Crisis, 2008-2009; FINANCIAL markets; SECURITIES processing; MORTGAGE loans; REAL estate bubbles; BANK loans; ECONOMIC globalization; GOVERNMENT policy
- Publication
International Journal of Urban & Regional Research, 2009, Vol 33, Issue 2, p281
- ISSN
0309-1317
- Publication type
Article
- DOI
10.1111/j.1468-2427.2009.00875.x