Irrational and Rational Homeowner Considerations
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This chapter covers how homeowners and marginal borrower’s irrational decision making using the expedient or revisionist pathway affected the housing market and what pathway they should have used to make more rational decisions in the real estate market. Real estate transactions examined in this chapter include the home equity loan, cash-out refinancing, and loan modifications.
KeywordsIrrational real estate decisions Expedient pathway Revisionist pathway
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