(Georgia Institute of Technology, 2011-10-26)
Immergluck, Daniel W.
There are no shortages of forecasts for how housing markets and urban development
might change over the next decades as a result of the foreclosure crisis, financial
regulatory reform, the restructuring of Fannie Mae and Freddie Mac, and other seismic
shifts in financial markets and public policy. For many, the volume and pace of change in
recent years in this arena have been overwhelming. What do we know - or think we
know -- about the future of housing markets, housing finance, and homeownership?
What about prospects for rental housing? What will various changes in housing finance
and public policy mean for our urban and suburban futures? Will the new financial
structures and associated policy thrusts align with an agenda of sustainable urban
development and planning or work against it? What about goals of social equity and
efforts to provide decent housing for lower-income households? What policy choices lay
ahead that will be pivotal in answering some of these questions?
(Georgia Institute of Technology, 2009-10-28)
Immergluck, Daniel W.
Over the last two years, the United States has observed, with some horror, the explosion and collapse of entire segments of the housing market, especially those driven by subprime and alternative or "exotic" home mortgage lending. The unfortunately timely Foreclosed explains the rise of high-risk lending and why these newer types of loans—and their associated regulatory infrastructure—failed in substantial ways. Dan Immergluck narrates the boom in subprime and exotic loans, recounting how financial innovations and deregulation facilitated excessive risk-taking, and how these loans have harmed different populations and communities. Immergluck, who has been working, researching, and writing on issues tied to housing finance and neighborhood change for almost twenty years, has an intimate knowledge of the promotion of homeownership and the history of mortgages in the United States. The changes to the mortgage market over the past fifteen years—including the securitization of mortgages and the failure of regulators to maintain control over a much riskier array of mortgage products—led, he finds, inexorably to the current crisis.