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- Title
Booms and Busts: The Case of Subprime Mortgages.
- Authors
Gramlich, Edward M.
- Abstract
In this article, the author examines the state of subprime mortgages in the U.S. in 2007. The author references data from the Home Mortgage Disclosure Act, which indicated that 20 percent of all subprime mortgages are made by banks and thrifts. He then gives an integrated treatment of the subprime market and rental housing. He indicates that the usual treatment ignores rental housing. He also discusses the important role of community groups in the low-income housing market. Lastly, the author assesses the effectiveness of foreclosure prevention programs in dealing with problems in the subprime market.
- Subjects
UNITED States; SUBPRIME mortgages; MORTGAGES; SUBPRIME loans; RENTAL housing; LOW-income housing
- Publication
Economic Review (01612387), 2007, Vol 92, Issue 4, p105
- ISSN
0161-2387
- Publication type
Article