Why Is Housing Finance Still Stuck in Such a Primitive Stage?
The institutions for financing owner-occupied housing have not progressed as they should, and the financial innovation that has followed the financial crisis of 2007-2009 has not been focused on improving the risk management of individual homeowners. This paper lists a number of barriers to housing finance innovation, and in light of these barriers, the problems of some major innovations of the past and future: self-amortizing mortgages, price-level adjusted mortgages (PLAMs), shared appreciation mortgages (SAMs), housing partnerships, and continuous workout mortgages (CWMs).
Volume (Year): 104 (2014)
Issue (Month): 5 (May)
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andrew Caplin & Sewin Chan & Charles Freeman & Joseph Tracy, 1997. "Housing Partnerships: A New Approach to a Market at a Crossroads," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262032430, June.
- Todd Sinai & Nicholas Souleles, 2013.
"Can Owning a Home Hedge the Risk of Moving?,"
American Economic Journal: Economic Policy,
American Economic Association, vol. 5(2), pages 282-312, May.
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