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…
W98-7: Due to the financing mechanisms currently available, homeowners tend to have too much of their portfolios invested in their homes and institutional investors have…