Academic literature on the topic 'American mortgage crisis'

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Journal articles on the topic "American mortgage crisis"

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Haro, Lea, and Maria Sullivan. "The American Mortgage Crisis Goes Global." Critique 37, no. 1 (2009): 51–65. http://dx.doi.org/10.1080/03017600802598195.

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Bosworth, Barry, and Aaron Flaaen. "Financial Crisis American Style." Asian Economic Papers 8, no. 3 (2009): 146–70. http://dx.doi.org/10.1162/asep.2009.8.3.146.

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This paper reviews some of the research on the causes of the financial crisis of 2008–09, highlights the key events that triggered a financial panic in September 2008, and summarizes the key policy actions that the United States has taken to ameliorate the crisis. We document the characteristics and growth of the sub-prime mortgage market, and the distorted incentives and flawed regulatory structure surrounding the secondary market for mortgage-backed securities. We also assess the role for macroeconomic determinants of the crisis that serve to explain the bubble in U.S. asset prices, most notably low global interest rates attributed to either loose monetary policy or excess global saving. Although low global interest rates may have contributed to the boom in housing markets and speculative excesses, we believe that the financial innovations and microeconomic distortions played a more fundamental role. Finally, a recovery marked by higher private saving, weak domestic investment, and a large public deficit appears to be unsustainable. Ultimately, the U.S. economy will need to shift about 3 percent of GDP from domestic consumption to the export sector. This will pose some serious challenges to Asian economies that have come to rely on exports to the U.S. market.
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Avramenko, Richard, and Richard Boyd. "Subprime Virtues: The Moral Dimensions of American Housing and Mortgage Policy." Perspectives on Politics 11, no. 1 (2013): 111–31. http://dx.doi.org/10.1017/s1537592712003672.

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The so-called “subprime mortgage crisis” has led to intense scrutiny of American housing policy, mortgage finance, and even the goods of homeownership. Some critics allege that the housing bubble and ensuing financial crisis were consequences of misguided state intervention, while others contend that the sources of the crisis lay in the pathologies of unregulated markets. Both sides, however, treat the crisis and its underlying causes primarily through an economic lens of cost-benefit analysis. Building on the insights of contemporary political theorists and the new institutionalism in political science, we consider American housing policy from the vantage of virtue theory. Not only is housing and mortgage policy inevitably normative, but public policy can be an important tool in fostering what we call the “subprime virtues” of truth-telling, promise-keeping, frugality, moderation, commitment, foresight, and judgment that are absolute prerequisites for any decent society.
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Kuebler, Meghan. "Lending in the Modern Era: Does Racial Composition of Neighborhoods Matter When Individuals Seek Home Financing? A Pilot Study in New England." City & Community 11, no. 1 (2012): 31–50. http://dx.doi.org/10.1111/j.1540-6040.2011.01391.x.

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This article explores the relationship between racial composition of neighborhoods and approval and origination of mortgages. It measures independent neighborhood effects, above and beyond applicant race effects preceding the recent housing market crisis for rental and owner–occupied homes. Mortgage applications are selected from the dozen most populated metropolitan areas in New England. Applications are linked to corresponding neighborhood data and generalized linear mixed modeling is applied. Data include prehousing market crash Housing Mortgage Disclosure Act data matched to American Community Survey 5–year data for over one million applications. Findings indicate, although controlling for income, gender, and race of the applicant, poverty and tenure, and additional socioeconomic variables, neighborhood racial composition has a statistically significant effect on whether mortgages are approved and originated. Minority presence is correlated with a negative effect on mortgage origination regardless of race of the individual loan applicant. More specifically, whites’ applications are also turned down in minority neighborhoods, especially black neighborhoods.
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Walker, Cooper M. "Robbing Peter and Blaming Paul." Texas A&M Journal of Property Law 2, no. 1 (2014): 147–68. http://dx.doi.org/10.37419/jpl.v2.i1.7.

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The Author’s purpose is to show the American community—and specifically the legal community—how and why Hockett’s proposal is not an ethically correct or appropriate solution for the underwater mortgage crisis. To achieve this end, the Author will give a detailed explanation of Professor Hockett’s proposal in Part II. Next, the Author will set forth Hockett’s explanation of what caused the underwater mortgage crisis in Part III. In Part IV the Author will provide his own belief on what the cause of the underwater mortgage crisis is. Then, after showing how Hockett does not assess the cause of the underwater mortgage crisis correctly, the Author will then show the reader how Hockett’s solution is not ethically appropriate in Part V. This Comment will evaluate the ethical resolve of Hockett’s solution using the legal philosophy of St. Thomas Aquinas. However, the Author is confident that if the reader is willing to inspect Hockett’s solution against the facts of what created the underwater mortgage crisis, the reader will then develop an intuitive sense for why Hockett’s solution is neither ethically correct nor appropriate.
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Tighe, J. Rosie. "Book Review: The American Mortgage System: Crisis and Reform." Urban Affairs Review 48, no. 6 (2012): 907–9. http://dx.doi.org/10.1177/1078087411436108.

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Krekoten, Iryna, Lyudmyla Svіstun, and Yulia Khudolii. "Prospects of using security mechanism in the process of rehabili-tation the building sphere in Ukraine." International Journal of Engineering & Technology 7, no. 3.2 (2018): 219. http://dx.doi.org/10.14419/ijet.v7i3.2.14406.

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In this article, securitization was investigated as one of the most important sources of financing for the construction of residential real estate in Ukraine. The main purpose of the article is to explore ways to refinance mortgage loans used in the world practice for the rehabilitation the building sphere in residential real estate and to identify ways of expanding and cheapening them. The authors have found that a depository financing model uses on the Ukrainian mortgage market has significantly reduced the possibilities for its development and makes the mortgage expensive. Also, the models of the European and American mortgage markets were compared, identified the advantages and disadvantages of each model. And the possibility of using these models in Ukraine was considered. The current state of the mortgage market in Ukraine was examined. In addition, the trend of mortgage market development in a pre-crisis and post-crisis period was demonstrated in this article. Finally, the following conclusion was drawn: in order to increase the availability of mortgage loans and to rehabilitation the construction sphere, it is necessary to introduce mechanisms for refinancing mortgage loans.
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Danielsen, Karen A. "A Review of “The American mortgage system; Crisis and reform”." Journal of the American Planning Association 78, no. 3 (2012): 351. http://dx.doi.org/10.1080/01944363.2012.693001.

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Rose, Jonathan D. "Financial crises at insurance companies: learning from the demise of the National Surety Company during the Great Depression." Financial History Review 24, no. 3 (2017): 239–64. http://dx.doi.org/10.1017/s0968565017000245.

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This article explores the economic issues related to financial crises at insurance companies, using an example from the Great Depression, the National Surety Company. National Surety was a large and diverse American insurance company that experienced a major crisis in 1933 due to losses from its guarantees of mortgage-backed securities. I find that policyholders were able to stage a massive run on the company by demanding the return of their unearned premiums. A key dynamic of the crisis was that policyholders at an insurance company have a dual role as holders of liabilities and as providers of income. In addition, I establish that government officials believed National Surety to be systemically important, due to the size of its insurance business and because many of its counterparties were societal actors that these officials sought to protect. As a result, the New York State Insurance Commissioner used emergency powers to reorganize the company, with the goal of providing continuity to its business lines outside mortgage-backed security insurance.
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Chen, Jian Bao, Ting Yang, and Huo Biao Zhou. "Contagion Effect Analysis of Financial Crisis in Soybean Futures Markets Based on Copula Functions." Applied Mechanics and Materials 198-199 (September 2012): 885–88. http://dx.doi.org/10.4028/www.scientific.net/amm.198-199.885.

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Using five kinds of Copula functions to investigate the changes of correlations among soybean futures in Tokyo Grain Exchange, Chicago Board of Trade and Dalian Commodity Exchange market before and after the financial crisis caused by American subprime mortgage, this paper verifies the existence of contagion effect of this crisis in the international soybean futures markets.
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Dissertations / Theses on the topic "American mortgage crisis"

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Aguiar, Maricruz. "Real estate law the American dream transfigured into the American mortgage crisis." Honors in the Major Thesis, University of Central Florida, 2012. http://digital.library.ucf.edu/cdm/ref/collection/ETH/id/655.

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Real Estate law is the body of rules and regulations with legal codes that concern ownership, development and transactions. Real Estate has grown to be one of the main contributors to the nation's financial system. For decades, the housing market has been such an integral part of the economy. Unfortunately, in the beginning of the twenty-first century lax regulatory oversight led the nation to an economic collapse. Indeed, federal, state and local governments have become heavily involved in solving the downward spiral in the economy. This research focuses on the mortgage crisis in order to show how Real Estate law can in fact, restore the economy when the government has a balance between regulations and market discipline. The intent of this thesis was to study the occurrence of the mortgage crisis, the regulatory authorities and the legal effects of the housing market. Through the analysis of case law and statutes, data, previous recessions, and economic indicators, this thesis examines the key factors in our legal system that should drive reform in our economy. Results suggested that greater efforts to a regulatory structure generate a secure financial system. Thus, the purpose of this thesis is not only to solve our current mortgage crisis but also to mitigate or prevent future crises.<br>B.A. and B.S.<br>Bachelors<br>Health and Public Affairs<br>Legal Studies
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Osička, Štěpán. "Hypoteční krize v USA v první dekádě 21. století." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-10579.

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The aim of this diploma thesis is an analysis of the contemporary mortgage crisis in the USA. The thesis consists of four sections. The first part describes historical developments of the American mortgage market with the emphasis on securitization. The second chapter deals with the market failures occurring within the securitization process. The third chapter is dedicated to the primary mortgage market, in particular to the causes of the previous credit boom, "running" house prices. Moreover, this chapter analyzes the "subprime" and "Alt-A" mortgage market, their products and practices prevailing on these markets. The last chapter is devoted to the secondary mortgage markets. The aim of this chapter is to describe how "subprime" and "Alt-A" mortgage deals were structured. The case study offers an example and its results are presented.
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Münchová, Tereza. "Role kreditních derivátů v americké hypoteční krizi." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-15975.

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Credit derivatives are one of the most often discussed instruments which influenced the mortgage crisis in USA and consequently also the global financial crisis. Credit derivatives are complex instruments. The aim of this thesis is to describe credit derivatives, dealing with them, analyse the situation on the housing market in USA, determine what the role of credit derivatives in the crisis was and analyse other factors, which contributed to the creation of the crisis.
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Zikmunda, Petr. "Americká hypoteční krize." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-75244.

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This graduation thesis focuses on analyzing the impact(s) of the recent American mortgage crisis. The main goal is to study measures that have been taken to overcome this crisis andv evaluate them. The thesis is divided into four parts. The aim of the first part is to quantify the size of the United States housing bubble. The second part brings in the estimates of losses to individual financial institutions in the USA. The third part concentrates on detailed analysis of the arrangements that have been used to overcome mortgage crisis and consequential financial crisis. The last part compares the measures taken in order to solve the recent crisis with the ones that had been taken to overcome the Great Depression.
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Teixeira, Lucas Azeredo da Silva 1982. "Uma investigação sobre o endividamento dos trabalhadores norte-americanos dos anos 1980 aos anos 2000." [s.n.], 2010. http://repositorio.unicamp.br/jspui/handle/REPOSIP/286342.

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Orientador: José Carlos de Souza Braga<br>Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia<br>Made available in DSpace on 2018-08-17T14:14:54Z (GMT). No. of bitstreams: 1 Teixeira_LucasAzeredodaSilva_M.pdf: 2429408 bytes, checksum: 63f83d0828c01c76f9abcb7f264cb891 (MD5) Previous issue date: 2010<br>Resumo: Esta dissertação discute as origens do processo que mais chamou atenção na economia norte-americana, antes da eclosão da crise do subprime: o crescente endividamento do consumidor. Partindo da idéia de que este "modelo" da economia americana não poderia ser imitado por nenhum outro país, buscam-se as origens das assimetrias do sistema monetário internacional no ocaso de Bretton Woods e no surgimento do atual padrão monetário internacional. Em seguida, é exposta a trajetória de endividamento/enriquecimento líquido dos macrossetores institucionais da economia norte americana, para, desta forma, mostrar um dos principais fatos estilizados da economia norte-americana: o crescente endividamento das famílias a partir dos anos 1980. Estas mantiveram, de forma geral, um padrão de gastos menor que o fluxo de rendas, de modo a terem um superávit financeiro (enriquecimento líquido) até então. A partir do início dos anos 1980, este superávit reduziu-se paulatinamente, devido ao crescente endividamento, alcançando valores negativos e crescentes, na segunda metade dos anos 1990. Segundo a hipótese adotada neste trabalho, as causas deste endividamento são encontradas na mudança na distribuição de renda (aumento da concentração) e nas desregulamentações e inovações financeiras, que se desenvolvem a partir do fim dos anos 1970. Tendo em vista que este aspecto vem sendo bem explorado na literatura especializada, a dissertação concentra sua explicação na mudança no padrão de distribuição de renda. Analisando por esse prisma, chega-se a conclusão que não se trata de endividamento das famílias, ou dos consumidores, mas, mais especificamente, dos trabalhadores norte-americanos, que tiveram que se endividar para financiar seus gastos, em um contexto de salários reais estagnados. Por fim, os rumos da economia norte-americana pós-crise são brevemente avaliados<br>Abstract: The purpose of this dissertation is to discuss the origins of a critical process in the North American economy before the subprime crisis, namely, the increasing debt of households. Considering that north-american economic "model" couldn't be copied by any other country, the origins of the asymmetries within the international monetary system(s) are pursued in the Bretton Woods case, as well as, the development of the current international monetary pattern. Then the net-borrowing path of institutional macro sectors are presented as contributing factors containing strong evidence for one of the more significant and stylized facts of North American economy, i.e. the growing debt of primarily American households since the 1980s. Prior to this, spending, in general, was notably less than their annual income flow, resulting in a financial surplus. Beginning in the 1980s, this surplus had been gradually reduced due to an increasing indebtedness and, in the second half of the 1990s, a mounting deficit was introduced. It is argued that the causes of this indebtedness are alterations in income distribution (an increased concentration of income) and the process of financial deregulation and innovation, developed in the late 1970s. Considering that the latter has previously been explored in great detail, this particular examination explores the changes on income distribution pattern. Based on this perspective, it is concluded that the indebtedness does not come from families or households in general but, more specifically, from North American workers, who had to finance their spending through an on-going stagnation, or even deterioration, of the real wages at their disposal. Further, the direction of the North American economy after the crisis is evaluated in the contexts of these findings<br>Mestrado<br>Ciências Economicas<br>Mestre em Ciências Econômicas
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Hvazdzitskaya, Sviatlana. "Vznik a vývoj současné globální finanční krize (se zaměřením na její psychologické aspekty)." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-142120.

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This thesis aims to explain the underlying causes and evolution of the global financial crisis, starting from U.S. mortgage crisis to the European debt crisis. Because the causes mentioned above had both fundamental and psychological character - sufficient attention is placed on analyzing of psychological aspects, which contributed to the development of the financial crisis. The psychological component of the work is based on several selected economics theories conclusions (T.Veblen and The theory of Leisure Class, A.Marshall and The principles of Economics, V.Pareto and The circulation of elite, J.M.Keynes and The market psychology), also on some economic psychology and behavioral economics theories (information asymmetry and decision-making process) and psychogenetics.
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Chen, Shun-Liang, and 陳淑凉. "The Study on Derivative Securities Specification by American Subprime Mortgage Crisis." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/82311615983880113939.

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碩士<br>淡江大學<br>國際商學碩士在職專班<br>96<br>August 2007, due to US government’s financial supervision organization’s lack of knowledge of financial innovative products and over laissez-faire regulatory system, resulting in the Subprime Mortgage Crisis triggered the global financial crisis, forcing the United States, Europe, Japan and other major central banks work together to save financial institutions, supplement market liquidity and avoid the liquidity shortage caused credit crunch, the impact of global economic development. This incident has highlighted lax standard mortgage and asset securitization of credit risk to spread the innovative products, this credit was over-development tool, has seriously affected the financial market stability and sound development. The problems caused by the incident, also present serious challenges to financial institutions in the self-regulatory code of practice, the accounting framework and financial supervision norms. Financial liberalization and internationalization of the development of legal institutions based on the purpose of trade or hedge the demand and the Basel Capital Accord for banks own capital adequacy ratio requirement of the asset securitization and derivative securities market to flourish. However derivative of niche products also brought along with risk to market participants and more speculative transactions for the purpose of improper operation of domestic and foreign industry or traders defects caused by lack of self-discipline,coupled with the financial leverage of commodity multiplier effect that in huge losses from time to time. The study focused on the U.S. subprime mortgage crisis story and derivative securities risk control and regulatory framework problems. To learn the lessons from U.S. subprime mortgage crisis and its derivative securities development experience for our future deployment of mortgage and derivative securities market. Furthermore, to expand the market scale and to development financial institutions to play a decentralized operational risk function. This study''s recommendations: First, strengthen the credit market and economic norms of observation; Second, strengthen financial institutions, risk management and prudent management principles; Third, to improve market discipline; Fourth, strengthen financial supervision, and the financial early-warning system; Fifth, ,the strengthen of International cooperation ; Sixth, actively nurture talents
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Lemay, Casey Daniel. "Refinancing the American dream : a modern history of federal policy aimed at ending America’s housing crisis." Thesis, 2014. http://hdl.handle.net/2152/26298.

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This report seeks to outline recent federal policy regarding home mortgage finance, specifically the Home Affordable Refinance Program (HARP), the main tool of the Making Home Affordable Program (MHA), which is aimed at helping the United States recover from the housing crisis it has been experiencing ever since the mid-late 2000s. A modern history of federal policy on home mortgage finance will help to set the stage for the reader for what has been one of the most difficult housing disasters that America has ever seen. After outlining HARP’s background, the background of the housing crisis, the roles of Government-sponsored entities, and the effectiveness of the most current federal responses to the crisis, this report will detail policy recommendations and changes to the current programs that may help to further alleviate the problems discussed in this report, and more effectively achieve the stated goals of the MHA and HARP.<br>text
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Wu, Cai-Lun, and 吳采倫. "The Relevance of Taiwan and American Monetary Policy after the US Subprime Mortgage Crisis." Thesis, 2017. http://ndltd.ncl.edu.tw/handle/k947qe.

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碩士<br>康寧大學<br>企業管理研究所<br>105<br>The United States and Taiwan are closely related both in economy and politics as being a major dependent partner of Taiwan's long-term trade. After the US subprime mortgage crisis in 2008 that triggered the global financial crisis, various countries adopt monetary policy in order to boost the sluggish economy atmosphere. As Taiwan is a small open economy, we often consult the developmental trends of those major dependent countries when formulating policies. From this viewpoint, this study explores the correlation between the monetary policies in Taiwan and the United States after the US subprime mortgage crisis by analyzing the documents. This study includes monetary policies and the associated macroeconomic variables. This study adopts the qualitative research method to analyze the documents about monetary policy in the past two countries, and summarize the developmental order and period of monetary policy. And the quantitative analysis of the representative of the overall economic variables of the factors, such as: GDP, GNP, CPI, unemployment rate, the above factors to explore the overall economic variables and the relationship between within their rates of exchanging and interest. This study adopts the documents from January 2007 to September 2016. The monetary policies in the two countries and the macroeconomic variables of the composition during this period are the basis of this study.
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Kuo, Ding-Ren, and 郭丁任. "Interrelationships Among Major International Stock Price Indices Before and After the American Sub-prime Mortgage Crisis." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/66944630719717797874.

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碩士<br>朝陽科技大學<br>企業管理系碩士班<br>96<br>The purpose of this research is to study the interrelationships of international stock markets, and aims at the before and after the sub-prime mortgage affairs, to whether will produce degree different impact on international stock markets. This research is to take 7 nations in Taiwan, the United States and Hong Kong, Japan and Singapore, England and China, 11 stock price indices as a research object. Study the period as February 1, 2006 to March 31, 2008. This study makes use of the measures of unit root test, Granger’s causality test, Impulse Response Analysis and Forecast Error Variance Decomposition. According to the empirical results: 1.Granger’s causality test, the American stock market still keeps having the strength and ability of leading global economy; China stock market, the stock price indices of the Shanghai A, B and Shenzhen A and B, this 4 stock price indices produced the mutual feedback. 2.Impact responds analysis, the United States and Taiwan, Hong Kong and Japan, Singapore and England, all have the reaction of certain degree while facing the reaction of the impact of other markets, so can know that its information conduction efficiency is very rapid. 3.Forecast Error Variance Decomposition, mostly the degree explained by self is bigger. 4.The influence of the sub-prime mortgage affairs, the global stock market appears a violent motion once again, among them, the mainest fuse is an American sub-prime mortgage affairs depravation, the United States overcast to flap not, connect bring to pound at American economy, probably produce a negative catena effect to global economy. Up to in March, 2008 the fall of Hong Kong stock price Index about 2.5%, Tokyo 225 stock price Index fall nearly about 2.39% , Taiwan stock price index number fall nearly about 5%, Singapore stock price index fall about 3.46%, Shanghai stock price index fall about 1.34%, London stock price index fall is about 3.09% and also represent American stock market to influence the level of international stock market extremely extensive.
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Books on the topic "American mortgage crisis"

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The American mortgage system: Crisis and reform. University of Pennsylvania Press, 2011.

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The American housing crisis. Greenhaven Press, A part of Gale, Cengage Learning, 2014.

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California. Legislature. Senate. Committee on Banking, Finance, and Insurance. Preserving the American dream: Homeownership preservation and the subprime mortgage crisis : final report. Senate Publications & Flags, 2007.

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Michaelson, Adam. The foreclosure of America: The inside story of the rise and fall of Countrywide Home Loans, the mortgage crisis, and the default of the American dream. Berkley Books, 2009.

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The foreclosure of America: The inside story of the rise and fall of Countrywide Home Loans, the mortgage crisis, and the default of the American dream. Berkley Books, 2009.

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The crisis of American savings & loan associations: A comprehensive analysis. P. Lang, 1998.

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Restoring the American dream: Solutions to predatory lending and the foreclosure crisis : field hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Tenth Congress, second session, on solutions to predatory lending and the foreclosure crisis, Monday, April 7, 2008. U.S. G.P.O., 2010.

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Financial crisis in America. Nova Science Publishers, 2009.

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author, Niedt Christopher, ed. Foreclosed America. Stanford Briefs, an imprint of Stanford University Press, 2015.

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Burns, Russell. America's foreclosure crisis: Causes and responses. Nova Science Publishers, 2011.

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Book chapters on the topic "American mortgage crisis"

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Song, Tao, and Shi-chen Fan. "Causes of American Subprime Mortgage Crisis and Its Enlightenment to China." In Advances in Intelligent and Soft Computing. Springer Berlin Heidelberg, 2012. http://dx.doi.org/10.1007/978-3-642-27966-9_22.

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"Chapter 1 0 Information Failure and the U.S. Mortgage Crisis." In The American Mortgage System. University of Pennsylvania Press, 2011. http://dx.doi.org/10.9783/9780812204308.243.

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"Chapter 6 A Profile of the Mortgage Crisis in a Low- and Moderate-Income Community." In The American Mortgage System. University of Pennsylvania Press, 2011. http://dx.doi.org/10.9783/9780812204308.137.

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"Chapter 7 Constructive Credit: Revisiting the Performance of Community Reinvestment Act Lending During the Subprime Crisis." In The American Mortgage System. University of Pennsylvania Press, 2011. http://dx.doi.org/10.9783/9780812204308.159.

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"Chapter 8 Navigating the Housing Downturn and Financial Crisis: Home Appreciation and Equity Accumulation Among Community Reinvestment Homeowners." In The American Mortgage System. University of Pennsylvania Press, 2011. http://dx.doi.org/10.9783/9780812204308.187.

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"Mortgage Racketeering: The American Home Mortgage Foreclosure Crisis and the UN Convention Against Corruption." In International Responses to Issues of Credit and Over-indebtedness in the Wake of Crisis. Routledge, 2016. http://dx.doi.org/10.4324/9781315589534-20.

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Lu, Shanel. "Financial Literacy Education Program Post Financial Housing Crisis." In Advances in Educational Marketing, Administration, and Leadership. IGI Global, 2018. http://dx.doi.org/10.4018/978-1-5225-3649-9.ch003.

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As Americans faced financial devastation resulting from the 2008 housing financial crisis, left them in a critical financial hardship. Many affluent suburban neighborhoods now resembled desolate ghost towns as families abandon homes in the middle of the night to avoid ugly snares and embarrassment (Bradford, 2011). Homeowners that once lived in upper middle-class communities achieving the American dream faced the horrifying reality of facing foreclosure, bankruptcies that will force themselves into financial ruin (Bradford, 2011). As a result of the financial housing crisis, 6.9 million homeowners faced mortgage delinquency causing financial institutions to begin foreclosure proceedings (Bradford, 2011; Crotty, 2009). This research focuses on the background to the problem, the underserved populations that were deeply impacted by the financial housing crisis and financial literacy education program that can assist the community toward financial recovery.
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Lu, Shanel. "Financial Literacy Education Program Post Financial Housing Crisis." In Research Anthology on Personal Finance and Improving Financial Literacy. IGI Global, 2021. http://dx.doi.org/10.4018/978-1-7998-8049-3.ch027.

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As Americans faced financial devastation resulting from the 2008 housing financial crisis, left them in a critical financial hardship. Many affluent suburban neighborhoods now resembled desolate ghost towns as families abandon homes in the middle of the night to avoid ugly snares and embarrassment (Bradford, 2011). Homeowners that once lived in upper middle-class communities achieving the American dream faced the horrifying reality of facing foreclosure, bankruptcies that will force themselves into financial ruin (Bradford, 2011). As a result of the financial housing crisis, 6.9 million homeowners faced mortgage delinquency causing financial institutions to begin foreclosure proceedings (Bradford, 2011; Crotty, 2009). This research focuses on the background to the problem, the underserved populations that were deeply impacted by the financial housing crisis and financial literacy education program that can assist the community toward financial recovery.
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Vermeulen, Karla. "Economic Expectations." In Generation Disaster. Oxford University Press, 2021. http://dx.doi.org/10.1093/oso/9780190061630.003.0009.

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The chapter “Economic Expectations” explores how Generation Disaster’s career hopes have been shaped by the depressed economy of their youth, the mortgage crisis that destroyed many families’ primary investments, and the current competition for work in a job market that was still recovering from the Great Recession and then crashed again due to the pandemic. Many members of the group express serious pessimism about their financial prospects, including their chances of securing satisfying work and being able to retire. Others are more optimistic, particularly if they started off with more resources. This divide in expectations reinforces the growing income and wealth gaps between segments of the population and demonstrates that the myth of the “American Dream” is not available to everyone.
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Trawinski, Lori A. "Mortgage Foreclosures and Older Americans." In Remaking Retirement. Oxford University Press, 2020. http://dx.doi.org/10.1093/oso/9780198867524.003.0006.

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Economic conditions improved since the 2008–09 mortgage market crisis, and home prices recovered in many areas. Nevertheless, over time, growing numbers of older households have taken on greater mortgage debt than in the past. These families are also carrying mortgage loans into retirement, far more than they did in the past. Foreclosure rates for all loans have decreased to pre-recession levels for borrowers under age 50, while for borrowers age 50+, foreclosure rates in 2017 were higher than in 2007. This means that many older homeowners may face the loss of their homes, despite the fact that the economy improved after the financial crisis.
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Conference papers on the topic "American mortgage crisis"

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Wenya, Shao, and Wu Lili. "The Enlightenment of American Subprime Mortgage Crisis to Financial Supervision in China." In 6th International Conference on Financial Innovation and Economic Development (ICFIED 2021). Atlantis Press, 2021. http://dx.doi.org/10.2991/aebmr.k.210319.049.

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