Mayer, Christopher; Pence, Karen; Sherlund, Shane M. - In: Journal of Economic Perspectives 23 (2009) 1, pp. 27-50
The first hints of trouble in the mortgage market surfaced in mid-2005, and conditions subsequently began to deteriorate rapidly. Mortgage defaults and delinquencies are particularly concentrated among borrowers whose mortgages are classified as "subprime" or "near-prime." The main factors...
