The great American housing bubble : the road to collapse

書誌事項

The great American housing bubble : the road to collapse

Robert M. Hardaway

Praeger, c2011

  • : hard copy

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注記

Includes bibliographical references (p. [175]-191) and index

内容説明・目次

内容説明

This meticulously documented work sets forth the major causes of the greatest asset bubble in world economic history-the American housing bubble, which began in 1940 and collapsed in 2007. In the aftermath of the American housing collapse in 2007, many ask why. The Great American Housing Bubble: The Road to Collapse asks a different and more fundamental question-how the bubble was created in the first place. To answer that question, it examines the causes, both political and economic, of the American housing bubble, created between 1940 and 2007. Those causes encompass everything from federal income tax subsidies for housing to local exclusionary policies, banking, accounting, real estate appraisal, and credit agency rating practices and policies. The book also takes into account the impact of greed, government regulation, speculation, and psychology-including blind faith in investment advisors-on the creation of the greatest asset bubble in the economic history of the world. The author takes a comparative historical approach, examining the current crisis in the light of notorious bubbles of the past. In the end, he concludes that the events precipitating the most recent collapse can be traced, at least in part, not to too little government regulation, but to too much.

目次

List of Tables Foreword Preface Acknowledgments Introduction 1 Overview: An Allegory 2 Blind Faith 3 Greed 4 Regulation 5 Local Exclusionary Practices 6 Bubbles of the Past 7 Economic Education 8 Speculation 9 Psychology 10 Bankruptcy Laws 11 Banking Practices and Redlining 12 The Federal Reserve 13 Tax Policy 14 Real Estate Practices 15 Credit Rating Agencies 16 Appraisers 17 Accounting 18 Fallout: The Litigation Mess 19 Conclusions Glossary Selected Bibliography Appendix A: Securitization Appendix B: Itemized Deductions for Individuals and Corporations Appendix C: Home Mortgage Disclosure Act of 1975 Appendix D: Community Reinvestment Act of 1977 Appendix E: Housing and Community Development Act of 1992 Appendix F: Home Ownership and Equity Protection Act of 1994 Appendix G: Regulations Assigning Regulatory Authority to the Secretary of Housing Regarding Fannie Mae and Freddie Mac Appendix H: Performance Tests, Standards, and Ratings, in General Appendix I: Taxpayer Relief Act of 1997 Appendix J: American Recovery and Reinvestment Act of 2009 Notes Index

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