The volatility of the business cycle and an extreme shortage of housing were the twin problems of American economic life in the years following the First World War. Under the…
There are many causes to the collapse of the housing market and the recent financial turmoil, but the contribution of the CRA appears marginal. While banks did engage in…
BABC 04-10: Spending financed by home equity extraction helps smooth household consumption and bolster the economy in economic downturns, but may reduce wealth…
This paper examines trends in prime-market mortgage lending to low- and moderate-income families and to families living in underserved areas, hereafter affordable lending,…