As the U.S. economy continues to emerge from the Great Recession, there is no shortage of theories and opinions about what caused it.
Some observers and commentators have argued that affordable... Read More
The recent boom-bust episode in home values was accompanied by an equally striking boom-bust pattern in the volume of mortgage-backed security issuances. My recent research focuses on understanding... Read More
For decades U.S. housing policy has focused on promoting homeownership. But has the policy worked? Is it a worthwhile policy goal? And what does it cost U.S. taxpayers? My analysis, published by... Read More
The U.S. economy recently experienced one of the worst financial and economic crises since the Great Depression. The crisis was triggered by a collapse of the bubble in residential real estate markets... Read More