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Author: Steven D. Gjerstad
Publisher: Cambridge University Press
Published: 2014-05-12
Total Pages: 309
ISBN-13: 0521198097
DOWNLOAD EBOOKSteven D. Gjerstad and Nobel Laureate Vernon L. Smith demonstrate the critical role that household and bank balance sheets play in economic cycles.
Author: Steven D. Gjerstad
Publisher: Cambridge University Press
Published: 2014-05-12
Total Pages: 309
ISBN-13: 113995203X
DOWNLOAD EBOOKIn this highly original piece of work, Steven D. Gjerstad and Nobel Laureate Vernon L. Smith analyze the role of housing and its associated mortgage financing as a key element of economic cycles. The authors combine data from both laboratory and real markets to provide insight into the bubble propensity of real-world economic actors and use novel historical analysis on the Great Recession, the Great Depression, and all of the post-World War II recessions to establish the critical roles of housing, private-capital investment, and household and private institutional balance sheets in economic cycles. They develop a model that incorporates household balance sheets and bank balance sheets and offers insights based on this analysis concerning policy going forward, effectively changing the way economists think about economic cycles.
Author: Josh Ryan-Collins
Publisher: Zed Books Ltd.
Published: 2017-02-28
Total Pages: 306
ISBN-13: 1786991217
DOWNLOAD EBOOKWhy are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.
Author: Shamubeel Eaqub
Publisher: Bridget Williams Books
Published: 2015-06-04
Total Pages: 101
ISBN-13: 090832104X
DOWNLOAD EBOOKThe decline of home ownership has struck at the heart of the Kiwi dream – so perhaps it is time to fashion a new one. House prices may boom or bust but the long-term trend is clear: for more New Zealanders than ever, home ownership is out of reach. Incomes simply have not kept pace with skyrocketing property prices. Generation Rent calls into question priorities at the heart of New Zealand’s identity. In this BWB Text, Shamubeel and Selena Eaqub investigate how we ended up here, and what can be done to ensure all New Zealanders – home owners and renters alike – live in affordable and secure housing.
Author: Josh Ryan-Collins
Publisher: John Wiley & Sons
Published: 2018-11-26
Total Pages: 140
ISBN-13: 1509523294
DOWNLOAD EBOOKThroughout the Western world, a whole generation is being priced out of the housing market. For millions of people, particularly millennials, the basic goal of acquiring decent, affordable accommodation is a distant dream. Leading economist Josh Ryan-Collins argues that to understand this crisis, we must examine a crucial paradox at the heart of modern capitalism. The interaction of private home ownership and a lightly regulated commercial banking system leads to a feedback cycle. Unlimited credit and money flows into an inherently finite supply of property, which causes rising house prices, declining home ownership, rising inequality and debt, stagnant growth and financial instability. Radical reforms are needed to break the cycle. This engaging and topical book will be essential reading for anyone who wants to understand why they can’t find an affordable home, and what we can do about it.
Author: Steven D. Gjerstad
Publisher:
Published: 2014
Total Pages:
ISBN-13: 9781107415522
DOWNLOAD EBOOKAuthor: Ada Colau
Publisher:
Published: 2014-05-10
Total Pages: 214
ISBN-13: 9780979137778
DOWNLOAD EBOOKTranslated from Spanish, and originally published under Vidas Hipotecadas. About the organizing strategies of the PAH, Plataforma De Afectados Por La Hipoteca.
Author: Atif Mian
Publisher: University of Chicago Press
Published: 2015-05-20
Total Pages: 238
ISBN-13: 022627750X
DOWNLOAD EBOOK“A concise and powerful account of how the great recession happened and what should be done to avoid another one . . . well-argued and consistently informative.” —Wall Street Journal The Great American Recession of 2007-2009 resulted in the loss of eight million jobs and the loss of four million homes to foreclosures. Is it a coincidence that the United States witnessed a dramatic rise in household debt in the years before the recession—that the total amount of debt for American households doubled between 2000 and 2007 to $14 trillion? Definitely not. Armed with clear and powerful evidence, Atif Mian and Amir Sufi reveal in House of Debt how the Great Recession and Great Depression, as well as less dramatic periods of economic malaise, were caused by a large run-up in household debt followed by a significantly large drop in household spending. Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. We can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place. Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing today’s economy: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?
Author: Dan Immergluck
Publisher: Rowman & Littlefield
Published: 2015-08-20
Total Pages: 201
ISBN-13: 1442253142
DOWNLOAD EBOOKThe great U.S. mortgage crisis was a transformative event that will reverberate for decades across families, neighborhoods, and cities. After years of research on various aspects of the crisis, Dan Immergluck examines what went wrong, identifying the factors that created the fragile housing finance system, which provided fertile ground for calamity. He also examines the federal response to the crisis, including who benefitted most from the response, and how a more effective and fair response could have been formulated. To reduce the incidence of future crises, Immergluck provides a pathway for building a more stable and fair housing finance system that would be less vulnerable to the booms and busts of global finance. Housing finance helps determine access to stable, decent-quality, affordable housing and also affects the geography of housing and educational opportunities. Thus, housing markets shape our communities, our neighborhoods, and our social and economic opportunities. Immergluck’s analysis and formulation of a way forward will be of particular interest to those concerned with urban form, neighborhood change and stability, and urban planning and policy, as well as those interested in housing and mortgage markets more generally.
Author: William Quinn
Publisher: Cambridge University Press
Published: 2020-08-06
Total Pages: 297
ISBN-13: 1108369359
DOWNLOAD EBOOKWhy do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
