Repairing a mortgage crisis
Subtitle: HOLC lending and its impact on local housing markets
By: Charles Courtemanche, Kenneth A. Snowden
Contributors: Snowden, Kenneth A.; National Bureau of Economic Research
Series: NBER working paper series -- working paper 16245; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16245.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] :
Description: "The Home Owners' Loan Corporation purchased more than a million delinquent mortgages from private lenders between 1933 and 1936 and refinanced the loans for the borrowers.  Its primary goal was to break the cycle of foreclosure, forced property sales and decreases in home values that was affecting local housing markets throughout the nation.  We find that HOLC loans were targeted at local (county-level) housing markets that had experienced severe distress and that the intervention increased 1940 median home values and homeownership rates, but not new home building"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 9/21/2010.

Includes bibliographical references.

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