Sabatini, Kate; Weller, Christian E. - Political Economy Research Institute (PERI), University … - 2007
From the late 1990s through 2005, the U.S. experienced an unprecedented housing boom, which boosted the asset values of many families. This meant, on the one hand, that families with homes had more collateral to borrow against, but it also meant that new home buyers needed to take out larger...