{"product_id":"the-american-mortgage-system-9780812223279","title":"The American Mortgage System","description":"\u003cp\u003eSuccessful home ownership requires the availability of appropriate mortgage products. In the years leading up to the collapse of the housing market, home buyers frequently accepted mortgages that were not only wrong for them but catastrophic for the economy as a whole. When the housing market bubble burst, so did a cornerstone of the American dream for many families. Restoring the promise of this dream requires an unflinching inspection of lending institutions and the right tools to repair the structures that support solid home purchases. \u003ci\u003eThe American Mortgage System: Crisis and Reform\u003c\/i\u003e focuses on the causes of the housing market collapse and proposes solutions to prevent another rash of foreclosures.\u003cbr\u003e\u003cbr\u003eEdited by two leaders in the field of real estate and finance, Susan M. Wachter and Marvin M. Smith, \u003ci\u003eThe American Mortgage System\u003c\/i\u003e examines key elements of the mortgage meltdown. The volume's contributors address the influence of the Community Reinvestment Act, which is often blamed for the crisis. They uncover how the government-sponsored enterprises Fannie Mae and Freddie Mac invested outside the housing market with disastrous results. They present surprising information about low-income borrowers and the strengths of local banks. This collection of thoughtful studies includes extensive analysis of loan practices and the creation of unstable mortgage securities, presenting data largely unavailable until now. More than a critique, \u003ci\u003eThe American Mortgage System\u003c\/i\u003e offers solutions to the problems facing the future of American home ownership, including identifying asset price bubbles, calculating risk, and preventing discrimination in lending.\u003cbr\u003e\u003cbr\u003eMeasured yet timely and by turns provocative, \u003ci\u003eThe American Mortgage System\u003c\/i\u003e provides a careful assessment of a troubled but indispensable part of the economic and social structure of the United States. This book is a sound investment for economists, urban planners, and all who shape public policy.\u003c\/p\u003e","brand":"Susan M. Wachter","offers":[{"title":"Default Title","offer_id":48185862029563,"sku":"9780812223279","price":50.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0779\/3917\/9771\/files\/9780812223279.jpg?v=1772482809","url":"https:\/\/indiepubs.com\/products\/the-american-mortgage-system-9780812223279","provider":"IndiePubs","version":"1.0","type":"link"}