Credit supply and the housing boom
An increase in credit supply driven by looser lending constraints in the mortgage market is the key force behind four empirical features of the housing boom before the Great Recession: the unprecedented rise in home prices, the surge in household debt, the stability of debt relative to house values,...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Chicago Press
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |