January 2017

MIT Sloan: Was there ever a subprime crisis?

January 9, 2017 The Housing Justice Foundation

Fascinating read from MIT Sloan, challenging a central assumption of the housing crisis:

While all types of people participated in the crisis, borrowers defaulting on bigger mortgages were responsible for a greater dollar amount in defaults. The researchers found that the top quintile of borrowers by income were responsible for 13 percent of delinquent mortgage debt in 2003.

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