recession and corrections to risky home lending?
Mike S asked: I read the following in an article by George Will:
There has been too much risky lending to unqualified (”subprime”) borrowers, who were living riskily.
Corrections are necessary: When too much housing has been built, the market must clear the inventory. Corrections can be painful: Housing prices have declined.
Can someone elaborate on this for [...]
recession and corrections to risky home lending?
Mike S asked: I read the following in an article by George Will:
There has been too much risky lending to unqualified (”subprime”) borrowers, who were living riskily.
Corrections are necessary: When too much housing has been built, the market must clear the inventory. Corrections can be painful: Housing prices have declined.
Can someone elaborate on this for [...]
Subprime Mortgage Lending - 2007 Statement
Jane A. Smith asked: The United States Treasury Department, along with several other federal financial regulatory agencies, released a Statement on Subprime Mortgage Lending in June 2007. This sizeable document (it is 31 pages long) is aimed at people involved in borrowing and lending for mortgages at subprime rates. Of particular concern to the authors [...]
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