By Cameron Polo *This is part of a series. Click here to read the previous article.* Delinquency rates provide important insights into the causes, and the severity, of the 2007-09 Global Financial Crisis (a borrower is delinquent when they are behind on one or more monthly mortgage payments). As the graph below highlights, there were Continue Reading »
By Cameron Polo The role individual homeowners played in contributing to the Global Financial Crisis of 2007-09 is often measured by the number of defaults and foreclosures. While many Americans did lose their home – and these stories garnered significant media coverage – a more accurate assessment of how homeowners influenced the crisis can be Continue Reading »
by Arjun Bakshi, William Zhao Fueled by investment property buyers in Las Vegas, the housing bubble in Nevada was pronounced. When the bubble burst, the pain was widely felt. The following are the key findings from our analysis of Nevada housing data. Finding 1: Nevada had a significant housing bubble. When it popped, home prices Continue Reading »
by Arjun Bakshi, William Zhao Our exploration of Massachusetts mortgage market data in the run up to the financial crisis provides four key findings. Finding 1: Massachusetts’ housing bubble was more modest compared to other states Figure 1 shows how home prices in Massachusetts rose at a more moderate pace compared to Arizona and Florida. Continue Reading »
by William Zhao, Arjun Bakshi In this report, we list seven key findings from our exploration of the mortgage market between 2000 and 2009 in Ohio. Although Ohio was relatively less affected by the housing bubble, our analysis points towards the existence of predatory behavior by mortgage lenders leading up to the crisis in Ohio. Continue Reading »
by William Zhao, Arjun Bakshi A Sun Belt state with a population that is one-third African American, Georgia was targeted by unscrupulous mortgage lenders during the 1990s and 2000s. When the housing bubble burst, all borrowers faced difficult circumstances and defaults skyrocketed . Below are six findings from our exploration of housing market data in Continue Reading »
by William Zhao, Arjun Bakshi The housing bubble in Florida was quite pronounced – likely due to the prominence of investors who bought second homes in the state – which accentuated the downturn when the national market collapsed. As a result defaults in Florida exceeded the national average and the default rate in other states Continue Reading »
by Arjun Bakshi, William Zhao Our 5 key findings reveal how Arizona was one of the worst affected states when the housing bubble burst. When the crash occurred in 2008, the data shows steep drop-offs in almost every mortgage metric, including average applicant income, average loan amount, and the number of conventional loans issued. Finding Continue Reading »
