The foreclosure crisis in 2008: predatory lending or household overreaching?

William Emmons, Kathy Fogel, Wayne Y. Lee, Liping Ma, Deena Rorie and Timothy J. Yeager

The Regional Economist, 2011, issue July, 12-14

Abstract: At least early in the financial crisis, the high rate of foreclosures seemed to be due more to households' overreaching than to predatory lending. A disproportionate number of those being foreclosed on were well-educated, well-off and relatively young people.

Keywords: Mortgage loans; Housing - Finance; Foreclosure (search for similar items in EconPapers)
Date: 2011
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