Robert Hardaway

The Great American Housing Bubble

The Road to Collapse

• Gebundenes Buch

Produktbeschreibung

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.

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Produktdetails

• Verlag: Praeger
• Seitenzahl: 288
• Erscheinungstermin: 18. Februar 2011
• Englisch
• Abmessung: 240mm x 161mm x 20mm
• Gewicht: 599g
• ISBN-13: 9780313382284
• ISBN-10: 031338228X
• Artikelnr.: 29930006

Autorenporträt

ROBERT M. HARDAWAY is a Professor of Law at the University of Denver College of Law. A frequent contributor to national and major regional newspapers and occasional media commentator, he is also the author of No Price Too High: Victimless Crimes and the Ninth Amendment (Praeger, 2003) and The Electoral College and the Constitution: The Case for Preserving Federalism (Praeger 1994), among other works.

Inhaltsangabe

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