We estimate a model of foreclosure using a data set that includes every residential mortgage, purchase-and-sale, and … foreclosure transaction in Massachusetts from 1989 to 2008. We address the identification issues related to the estimation of the … occurred in Massachusetts between 2005 and 2008 and conclude that the foreclosure crisis was primarily driven by the severe …

Millions of Americans have negative housing equity, meaning that the outstanding balance on their mortgage exceeds … homes. Our finding is consistent with historical evidence: we examine more than 100,000 homeowners in Massachusetts who had … foreclosure. This result is also, contrary to popular belief, completely consistent with economic theory, which predicts that from …

This paper analyzes the impact of the subprime mortgage crisis on urban neighborhoods in Massachusetts. We explore the … topic using a data set that matches race and income information from Home Mortgage Disclosure Act data with property …-level, transaction data from Massachusetts Registry of Deeds offices. With these data, we show that much of the subprime lending in the …