Publication Type
Journal Article
Publication Date
1-2012
Abstract
While mortgage credit expansion had lead to a rapid increase of home ownership in the US, the reversal of home prices beginning in 2006 resulted in a substantial increase in mortgage delinquencies and an explosion in outright defaults. Its devastating impact on the associated mortgage backed securities led the US and the world to its worst financial and macroeconomic crisis since the Great Depression, with its deleterious effects still felt today.
Disciplines
Corporate Finance | Finance and Financial Management
Licece/Creative Commons Licence
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Subject(s)
Basic or Discovery Scholarship
Citation
Singapore Management University.
Financial literacy and numerical ability: Keys to better mortgage outcomes. (2012).
Available at: https://ink.library.smu.edu.sg/pers/306
Additional URL
https://www.smu.edu.sg/perspectives/all