The U.S. Foreclosure Crisis Was Not Just a Subprime Event

Picker, Les
August 2015
NBER Digest;Aug2015, p6
The article reviews "A New Look at the U.S. Foreclosure Crisis: Panel Data Evidence of Prime and Subprime Borrowers from 1997 to 2012," by Fernando Ferreira and Joseph Gyourko, an NBER Working Paper from the U.S. National Bureau of Economic Research (NBER). Topics include the paper investigating explanations on why U.S. homeowners lost their homes during the housing bust. Also mentioned are the crisis as not even a subprime sector event and the empirical finding on negative equity conditions.


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