Stafford, Frank P.; Hurst, Erik; Chen, Bing - Institute for Social Research (ISR), University of Michigan - 2012
We utilize data from the Panel Study of Income Dynamics (PSID) to study borrowing decisions and other factors related to the run-up in housing prices in 1999-2007, their precipitous decline in 2007-2009, and how they contributed to mortgage distress and foreclosures as of 2009-2011. Difficulties...
