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- Title
Rising Foreclosures in the United States: A Perfect Storm.
- Authors
Edmiston, Kelly D.; Zalneraitis, Roger
- Abstract
In this article, the authors offer a detailed dissection of the foreclosure surge in the U.S. in 2007. The authors highlight the trends in foreclosure rates, both over time and across space. They then describe the foreclosure process and the circumstances that typically lead lenders to foreclose. They also discuss the three factors underlying the surge and explain how these factors have interacted to create a perfect storm. The authors conclude by discussing why the foreclosure situation is likely to get worse and why it is likely to improve after that time period.
- Subjects
UNITED States; FORECLOSURE; MONEYLENDERS; EXECUTIONS (Law); JUDICIAL sales; MORTGAGES; BUSINESS forecasting
- Publication
Economic Review (01612387), 2007, Vol 92, Issue 4, p115
- ISSN
0161-2387
- Publication type
Article