Well worth saving : how the New Deal safeguarded home ownership
"Well Worth Saving tells the story of the disastrous housing market during the Great Depression and the extent to which an immensely popular New Deal relief program, the Home Owners' Loan Corporation (HOLC), was able to stem foreclosures by buying distressed mortgages from lenders and refinancing them. Drawing on historical records and modern statistical tools, Price Fishback, Jonathan Rose, and Kenneth Snowden investigate important unanswered questions to provide an unparalleled view of the mortgage loan industry throughout the 1920s and early '30s. Combining this with the stories of those involved, the book offers a clear understanding of the HOLC within the context of the housing market in which it operated, including an examination of how the incentives and behaviors at play throughout the crisis influenced the effectiveness of policy."
History
XIV, 173 Seiten : Diagramme
9780226082448, 9780226082585, 022608244X, 022608258X
915302866
Introduction
The patchwork mortgage market in the 1920s
The mortgage crisis
Pressures for government action
The economic rationale for the HOLC
An HOLC primer
The lenders' good deal
The borrowers' good deal
Repairing mortgage and housing markets
The cost to taxpayers and subsidies to the housing market
Conclusion
Appendix: Walking through the analysis of the impact of the HOLC