Home Equity-Based Borrowing

Jaime Luque
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Jaime Luque: 1University of Wisconsin-Madison, USA

Chapter 20 in The Subprime Crisis:Lessons for Business Students, 2017, pp 171-177 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The beginning of the 21st century was a very prosperous time. This was a period in which there was a great increase in technological advancement. A period in which individuals had more technology on their phones than there was in the space shuttle during the first Apollo space mission. This was the first decade in which a computer was in almost every American home and we had the ability to access copious amount of information with the click of a mouse. There was also a change in the financial sector. Individuals were saving much less and spending more. This period mirrored the roaring twenties in which people were racking up debt. As the roaring twenties had a huge economic downturn leading to the worst economic crisis in U.S. history in the Great Depression, this period of great prosperity at the beginning of the new century also had a hard economic downturn as well, one that rivaled that of Great Depression…

Keywords: Subprime Crisis; Great Recession; 2009 Recession; Mortgage; Financial Market; Preventing Recession; 2009 Crisis; Interest Rates (search for similar items in EconPapers)
JEL-codes: G01 G1 (search for similar items in EconPapers)
Date: 2017
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