EconPapers    
Economics at your fingertips  
 

Why Is Housing Finance Still Stuck in Such a Primitive Stage"

Robert J. Shiller
Additional contact information
Robert J. Shiller: Cowles Foundation, Yale University, https://economics.yale.edu/people/faculty/robert-shiller

No 1934, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The institutions for financing owner-occupied housing have not progressed as they should, and the financial innovation that has followed the financial crisis of 2007-9 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).

Keywords: Mortgages; securitization; Financial crises; Self-amortizing mortgages; Installment mortgages; Level-payment mortgages; Price-level-adjusted mortgages (PLAMs); Shared appreciation mortgages (SAMs); Housing partnerships; continuous workout mortgages (CWMs); Automatic workout mortgages (AWMs); Dodd-Frank Act; Continuing Care Retirement Communities (CCRCs); Consumer Financial Protection Bureau (CFPB.gov) (search for similar items in EconPapers)
JEL-codes: R31 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2014-01
New Economics Papers: this item is included in nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Published in American Economic Review, Papers and Proceedings (May 2014), 104(5): 73-76

Downloads: (external link)
https://cowles.yale.edu/sites/default/files/files/pub/d19/d1934.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: Why Is Housing Finance Still Stuck in Such a Primitive Stage? (2014) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:1934

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().

 
Page updated 2025-03-24
Handle: RePEc:cwl:cwldpp:1934