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The foreclosure crisis in 2008: predatory lending or household overreaching?

Author

Listed:
  • William R. Emmons
  • Kathy Fogel
  • Wayne Y. Lee
  • Liping Ma
  • Deena Rorie
  • Timothy J. Yeager

Abstract

At least early in the financial crisis, the high rate of foreclosures seemed to be due more to households' overreaching than to predatory lending. A disproportionate number of those being foreclosed on were well-educated, well-off and relatively young people.

Suggested Citation

  • William R. Emmons & Kathy Fogel & Wayne Y. Lee & Liping Ma & Deena Rorie & Timothy J. Yeager, 2011. "The foreclosure crisis in 2008: predatory lending or household overreaching?," The Regional Economist, Federal Reserve Bank of St. Louis, issue July, pages 12-14.
    • Handle: RePEc:fip:fedlre:y:2011:i:july:p:12-14
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    Cited by:

    1. Bhardwaj, Geetesh & Sengupta, Rajdeep, 2012. "Subprime mortgage design," Journal of Banking & Finance, Elsevier, vol. 36(5), pages 1503-1519.

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