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How the Recent Economic Downturn Differs from Previous Downturns

  • Waymond Rodgers
  • Timothy G McFarlin
Chapter
  • 760 Downloads

Abstract

This chapter reports on how the recent economic downturn has been different from previous downturns and its effect on mortgage delinquencies, foreclosures, and market recovery. Further, this chapter highlights the process thinking pathways that homeowners used to deal with owing more on their homes than they were worth and examine the trajectory of home values after the downturn.

Keywords

Foreclosures Housing bubble Market recovery 

References

  1. Division Street Capital. 2016. Housing Market Data. http://www.divisionstreetcapital.com/housing-market-data.html.
  2. Dizikes, Peter. 2010. How Foreclosures Hurt Everyone’s home Values: MIT Economist Measures How Much Foreclosures Lower Housing Prices. http://web.mit.edu/press/2010/housing-prices.html.
  3. Economic Report of the President. 2012. Chapter 4, Stabilizing and Healing the Housing Market. http://www.whitehouse.gov/sites/default/files/microsites/ERP_2012_ch_4.pdf.
  4. Merle, Renae. 2009. “Foreclosures are Often in Lenders’ Best Interest.” Business, July. http://www.articleswashingtonpost.com/2009-07-28/business/36893209_1_borrowers-michael-fratantoni-lenders.
  5. Norman, Dennis. 2011. Number of Homeowners Underwater on Mortgage Increases. http://stlouisrealestatenews.com/real-estate-market/number-of-homeowners-underwater-on-mortgage-increases/.
  6. RealtyTrac Staff. 2011. “Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December.” January 12. http://www.realtytrac.com/content/press-releases/record-29-million-us-properties-receive-foreclosure-filings-in-2010-despite-30-month-low-in-december-6309.
  7. Zillow. 2014. In Most Major Markets, Negative Equity Has Fallen By Half Since Peak of Crisis. http://zillow.mediaroom.com/2014-12-17-In-Most-Major-Markets-Negative-Equity-Has-Fallen-By-Half-Since-Peak-of-Crisis.

Copyright information

© The Author(s) 2017

Authors and Affiliations

  • Waymond Rodgers
    • 1
  • Timothy G McFarlin
    • 2
  1. 1.University of Texas, El Paso/ University of HullHullUnited Kingdom
  2. 2.McFarlin LLPCaliforniaUSA

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