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Why does America have a love affair with homeownership? For many, buying a home is no longer in their best interest and may harm their children's educational opportunities. This book argues that US leaders need to re-evaluate housing policies and develop new ones that ensure that all Americans have access to affordable housing, whether rented or owned. After describing common myths, the book shows why the circumstances now faced by America's financial underclass make it impossible for them to benefit from homeownership because they cannot afford to buy homes. It then exposes the risks of 'home buying while brown or black,' discussing US policies that made it easier for whites to buy homes, but harder and more costly for blacks and Latinos to do so. The book argues that remaining racial discrimination and certain demographic features continue to make it harder for blacks and Latinos to receive homeownership's promised benefits.

Home ownership --- Mortgage loans --- Housing --- Finance.

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In this highly original piece of work, Steven D. Gjerstad and Nobel Laureate Vernon L. Smith analyze the role of housing and its associated mortgage financing as a key element of economic cycles. The authors combine data from both laboratory and real markets to provide insight into the bubble propensity of real-world economic actors and use novel historical analysis on the Great Recession, the Great Depression, and all of the post-World War II recessions to establish the critical roles of housing, private-capital investment, and household and private institutional balance sheets in economic cycles. They develop a model that incorporates household balance sheets and bank balance sheets and offers insights based on this analysis concerning policy going forward, effectively changing the way economists think about economic cycles.

Subprime mortgage loans --- Housing --- Banks and banking --- Global Financial Crisis, 2008-2009. --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- Financial crises --- B-paper mortgage loans --- Near-prime mortgage loans --- Non-prime mortgage loans --- Nonprime mortgage loans --- Second chance mortgage loans --- Sub-prime mortgage loans --- Mortgage loans --- Corrupt practices --- Prices

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Predatory lending --- Subprime mortgage loans --- Discrimination in mortgage loans --- Corrupt practices

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Loans --- Community development --- Mortgage loans --- Business & economics --- Law --- Loans --- Community development --- Mortgage loans --- Business & economics --- Law

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Loans --- Community development --- Mortgage loans --- Business & economics --- Law --- Loans --- Community development --- Mortgage loans --- Business & economics --- Law