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bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the … the model fit both national and cross-sectional moments better than a model without foreclosure. When calibrated to the …
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Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the …
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mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using …
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In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing...
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Millions of Americans lost their homes during the foreclosure crisis, an unprecedented disaster still plaguing local … and national economies. A primary factor contributing to the crisis has been the failure of conventional foreclosure … procedures to account for the new realities of securitization and the secondary mortgage market, which transformed the …
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