Book Cover

Title Housing and mortgage markets in historical perspective / edited by Eugene N. White, Kenneth Snowden, and Price Fishback
Published Chicago ; London : The University of Chicago Press, 2014
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Description 1 online resource
Series National Bureau of Economic Research conference report
National Bureau of Economic Research conference report.
Contents Introduction / Kenneth A. Snowden, Eugene N. White, and Price Fishback -- A historiography of early NBER housing and mortgage research / Kenneth A. Snowden -- Housing and the interwar business cycles. The interwar housing cycle in the light of 2001-2012: a comparative historical perspective / AlexanderJ. Field ; Consumption and investment booms in the twenties and their collapse in 1930 / Steven Gjerstad and Vernon L. Smith ; Lessons from the great American real estate boom and bust of the 1920s / Eugene N White -- A closer look at the interwar housing crisis. The 1920s American real estate boom and the downturn of the Great Depression: evidence from city cross sections / Michael Brocker and Christopher Hanes ; New multi-city estimates of the changes in home values,1920-1940 / Price Fishback and Trevor Kollmann ; The prolonged resolution of troubled real estate lenders during the 1930s / Jonathan D. Rose -- Securitization in earlier times. Dutch securities for American land speculation in the late-eighteenth century / Rik Frehen, William N. Goetzmann, K. Geert Rouwenhorst ; Lending to lemons: landschafts-credit in 18th century Prussia / Kirsten Wandschneider -- Postwar housing policies. The 20th-century increase in U.S. home ownership: facts and hypotheses / Daniel K. Fetter ; Did housing policies cause the postwar boom in homeownership? / Matthew Chambers, Carlos Garriga, and Don E. Schlagenhauf
Summary The central role of the housing market in the recent recession raised a series of questions about similar episodes throughout economic history. Were the underlying causes of housing and mortgage crises the same in earlier episodes? Has the onset and spread of crises changed over time? How have previous policy interventions either damaged or improved long-run market performance and stability? This volume begins to answer these questions, providing a much-needed context for understanding recent events by examining how historical housing and mortgage markets worked-and how they sometimes failed. Renowned economic historians Eugene N. White, Kenneth Snowden, and Price Fishback survey the foundational research on housing crises, comparing that of the 1930s to that of the early 2000s in order to authoritatively identify what contributed to each crisis. Later chapters explore notable historical experiences with mortgage securitization and the role that federal policy played in the surge in home ownership between 1940 and 1960. By providing a broad historical overview of housing and mortgage markets, the volume offers valuable new insights to inform future policy debates
Notes "Early versions of many of the papers in this volume were presented at a Universities Research Conference on Housing and Mortgage Markets in Historical Perspective held in Cambridge, Massachusetts on September 23 and 24 in 2011"--ECIP data
Bibliography Includes bibliographical references and index
Notes Print version record
Subject Housing policy -- United States -- History
Housing -- Prices -- United States -- History
Mortgage loans -- United States -- History
Residential real estate -- United States -- History
BUSINESS & ECONOMICS -- Real Estate -- General.
Housing policy.
Housing -- Prices.
Mortgage loans.
Residential real estate.
United States.
Genre/Form History.
Form Electronic book
Author Fishback, Price Van Meter, editor.
Snowden, Kenneth A., editor.
White, Eugene Nelson, 1952- editor.
ISBN 022609328X