Avery, Robert B.; Brevoort, Kenneth P. - In: The Review of Economics and Statistics 2 (2015) 97, pp. 352-363
Some have suggested that housing policy, embodied by the Community Reinvestment Act (CRA) and affordable housing goals of the government-sponsored enterprises (GSEs), caused the subprime crisis. We examine if these programs led to worse mortgage outcomes using two approaches. The first examines...