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Mortgage Credit Expansion

In: The Subprime Crisis Lessons for Business Students

Author

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  • Jaime Luque

    (1University of Wisconsin-Madison, USA)

Abstract

In order to get an adequate understanding of the events that led up to the subprime mortgage crisis, it is pertinent to first analyze the period of major credit expansion and increased homeownership that occurred between 2000 and 2006. What economic factors created incentives for this extraordinary increase in credit and home sales? Was this caused by a positive consumer wealth effect arising from the reduced cost of borrowing? Could an irresponsible expansion in risky lending be to blamed? Or were consumers guided by an irrational expectation of rising house prices? Pinpointing the source of this expansion can aid us in comprehending consumer behavior…

Suggested Citation

  • Jaime Luque, 2017. "Mortgage Credit Expansion," World Scientific Book Chapters, in: The Subprime Crisis Lessons for Business Students, chapter 3, pages 21-27, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813200043_0003
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    More about this item

    Keywords

    Subprime Crisis; Great Recession; 2009 Recession; Mortgage; Financial Market; Preventing Recession; 2009 Crisis; Interest Rates;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G1 - Financial Economics - - General Financial Markets

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