Brueckner, Jan K.; Calem, Paul S.; Nakamura, Leonard I. - In: Journal of Urban Economics 71 (2012) 2, pp. 230-243
This paper explores the link between the house-price expectations of mortgage lenders and the extent of subprime lending. It argues that bubble conditions in the housing market are likely to spur subprime lending, with favorable price expectations easing the default concerns of lenders and thus...