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…
W04-13: Over the past 50 years, housing expenditures have accounted for more than one fifth of the nation’s gross domestic product. But housing’s influence on the…
This paper analyses the performance of low-income and minority loans (LIMLs) from a large sample of fixed-rate mortgages purchased by Freddie Mac in the 1990s. Our focus is…