Securitization in the 1920's
William N. Goetzmann, Frank Newman
A substantial retail appetite for real estate securities during this period may have significantly contributed to a real construction boom, but overly optimistic speculation in these securities may have led to overbuilding. The rapid deterioration of these securities and a near complete drop in issuance show, ex post, that investors were overconfident in building fundamentals during the boom years. The breakdown in the value of real estate securities as collateral assets preceded the crash of 1929 and may have contributed to the fall of asset prices more generally
Year of publication: |
January 2010
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Authors: | Goetzmann, William N. |
Other Persons: | Newman, Frank (contributor) |
Institutions: | National Bureau of Economic Research (contributor) |
Publisher: |
Cambridge, Mass : National Bureau of Economic Research |
Subject: | Verbriefung | Securitization | Stadtentwicklung | Urban development | Hypothek | Mortgage | Immobilienmarkt | Real estate market | Städtebau | Urban design | Wirtschaftskrise | Economic crisis |
Saved in:
freely available
Extent: | 1 Online-Ressource |
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Series: | NBER working paper series ; no. w15650 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | System requirements: Adobe [Acrobat] Reader required for PDF files Mode of access: World Wide Web Hardcopy version available to institutional subscribers. |
Other identifiers: | 10.3386/w15650 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10012463000