LaCour-Little, Michael; Yu, Wei; Sun, Libo - In: Real Estate Economics 42 (2014) 1, pp. 153-189
type="main" <p>Home equity lending grew rapidly from 2000 to 2008 with balances more than tripling. In this article, we examine the role this phenomenon may have played in increasing aggregate default risk during the mortgage crisis. We also document a relationship between growth in home equity...</p>