Regional Economic Diversification and Residential Mortgage Default Risk

Terrence M. Clauretie
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Terrence M. Clauretie: Department of Finance University of Nevada, Las Vegas Las Vegas, Nevada 89154, http://www.unlv.edu/Colleges/Business/Finance/

Journal of Real Estate Research, 1988, vol. 3, issue 1, 87-97

Abstract: Geographic diversification allows those involved in real estate markets to manage risk. In this paper we discuss the role of local economic diversification in risk management. We show that residential foreclosure rates are negatively related to local economic diversification. We conclude that geographical diversification with reference to local economic diversification is more efficient than naive geographic diversification alone.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (4)

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