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…
W13-8: The recent housing bust precipitated a wave of mortgage defaults, with over seven percent of the owner-occupied housing stock experiencing a foreclosure.…
William Goetzmann, Matthew Spiegel
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October 8, 2001
Homeownership increases the incentive to maintain property and neighborhood, as well as decreasing the outflow of rents from low-income zones. However these benefits are not…