Buy this book
"Although long obscured by the Great Depression, the nationwide "bubble" that appeared in the early 1920s and burst in 1926 was similar in magnitude to the recent real estate boom and bust. Fundamentals, including a post-war construction catch-up, low interest rates and a "Greenspan put," helped to ignite the boom in the twenties, but alternative monetary policies would have only dampened not eliminated it. Both booms were accompanied by securitization, a reduction in lending standards, and weaker supervision. Yet, the bust in the twenties, which drove up foreclosures, did not induce a collapse of the banking system. The elements absent in the 1920s were federal deposit insurance, the "Too Big To Fail" doctrine, and federal policies to increase mortgages to higher risk homeowners. This comparison suggests that these factors combined to induce increased risk-taking that was crucial to the eruption of the recent and worst financial crisis since the Great Depression"--National Bureau of Economic Research web site.
Buy this book
Showing 1 featured edition. View all 1 editions?
Edition | Availability |
---|---|
1
Lessons from the great American real estate boom and bust of the 1920s
2009, National Bureau of Economic Research
Electronic resource
in English
|
aaaa
|
Book Details
Edition Notes
Title from PDF file as viewed on 12/28/2009.
Includes bibliographical references.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
Classifications
The Physical Object
ID Numbers
Community Reviews (0)
Feedback?History
- Created January 6, 2010
- 4 revisions
Wikipedia citation
×CloseCopy and paste this code into your Wikipedia page. Need help?
October 29, 2020 | Edited by MARC Bot | import existing book |
February 9, 2019 | Edited by MARC Bot | import existing book |
August 4, 2012 | Edited by VacuumBot | Updated format '[electronic resource] /' to 'Electronic resource' |
January 6, 2010 | Created by ImportBot | Imported from Library of Congress MARC record |