Fixing the Housing Market: Financial Innovations for the Future (Wharton School Publishing–Milken Institute Series on Financial Innovations)

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Fixing the Housing Market: Financial Innovations for the Future (Wharton School Publishing–Milken Institute Series on Financial Innovations)

Ever since the ancient Greeks, financial innovation has enabled more people to purchase homes. Today is no different: in fact, responsible financial innovation is now the best tool available for “rebooting” crippled housing markets, improving their efficiency, and making housing more accessible to millions. In Fixing the Housing Market, three leading experts explain how, covering everything decision-makers should know about today’s housing and financial markets.

The authors first explain how innovative housing financial products, services and institutions evolved through the 19th century, World War I, the Great Depression, World War II, and beyond — culminating in the post-1970s era of securitization. Next, they assess housing finance systems in mature economies during and after the recent crisis, highlighting benefits and risks associated with each widely-used mortgage funding structure and product. They also carefully assess current housing finance structures in emerging economies such as Brazil, Russia, India, and China.

Building on these insights, the authors introduce transformative financial innovations that can facilitate a more stable and sustainable financing system for housing — providing better shelter for more people, helping the industry recover, and creating thousands of new jobs. Using these new tools, entrepreneurs, economic development specialists, and policymakers can develop practical strategies for bridging funding gaps — raising more capital for longer terms at lower cost.

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Housing Markets and the Economy: Risk, Regulation, and Policy

The timing of this volume could not be more opportune. Based on the work of Karl “Chip” Case, who is renowned for his scientific contributions to the economics of housing and public policy, chapters analyze risk in the housing market, the regulation of housing markets by government, and other issues in U.S. housing policy. The book investigates derivative markets; the role that
home equity insurance can play in reducing risk; the role that the regulation of government-sponsored enterprises has played in extending credit to home purchasers in low-income neighborhoods; and the growth in the market for subprime mortgages. The impact of local zoning regulations on housing prices and new construction is also considered. This is a must read during a time of restructuring our nation’s system of housing finance.

List Price: $ 35.00

Price: $ 8.71

Fixing the Housing Market: Financial Innovations for the Future (Wharton School Publishing–Milken Institute Series on Financial Innovations)