The Great American Housing Bubble : : What Went Wrong and How We Can Protect Ourselves in the Future / / Adam J. Levitin, Susan M. Wachter.

• Superior document: Title is part of eBook package: De Gruyter HUP eBook-Package Pilot Project 2020
• VerfasserIn: Levitin, Adam J.,; Wachter, Susan M.,
• Place / Publishing House: Cambridge, MA : : Harvard University Press, , [2020]; ©2020
• Year of Publication: 2020
• Language: English
• Physical Description: 1 online resource (352 p.)
• Other title: Frontmatter --; Contents --; Preface --; Introduction: In Praise of Homeownership --; 1. Housing Finance before the New Deal 2 The New Deal Mortgage --; 2. The New Deal Mortgage --; 3. The Rise of Securitization --; 4. The Boom and the Bubble --; 5. The Bubble Bursts --; 6. Timing the Bubble --; 7. Demand or Supply? --; 8. Theories of the Bubble --; 9. The Wall Street Securitization Bubble --; 10. The Key Market Failure --; 11. Postcrisis Reforms and Developments --; 12. Principles for Reform --; 13. Meet Franny Meg --; Conclusion --; Appendix A: The Pre–New Deal Farm Finance System --; Appendix B: The Levitin-Wachter Subprime PLS Dataset --; Appendix C: CDO Manager Compensation --; Glossary --; Notes --; Acknowledgments --; Index
• Format: Mode of access: Internet via World Wide Web.
• ISBN: 9780674246942; 9783110690057
• DOI: 10.4159/9780674246942
• Access: restricted access
• Hierarchical level: Monograph
• Statement of Responsibility: Adam J. Levitin, Susan M. Wachter.

Adam Levitin and Susan Wachter argue that the housing bubble of the 2000s was caused by private-label securitization. Competition among Wall Street banks set off a race to the bottom in mortgage underwriting that inflated home prices but yielded huge profits before the bubble burst. To avoid déjà vu, w¬e need carefully regulated securitization.