Well Worth Saving: How the New Deal Safeguarded Home Ownership by Fishback Book

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Item specifics

Condition
Good: A book that has been read but is in good condition. Very minimal damage to the cover including ...
Pages
192
Publication Date
2013-10-04
Book Title
Well Worth Saving: How the New Deal Safeguarded Home Ownership
ISBN
9780226082448
Category

About this product

Product Identifiers

Publisher
Oxford University Press, Incorporated
ISBN-10
022608244X
ISBN-13
9780226082448
eBay Product ID (ePID)
10038273837

Product Key Features

Number of Pages
192 Pages
Publication Name
Well Worth Saving : How the New Deal Safeguarded Home Ownership
Language
English
Publication Year
2013
Subject
United States / 20th Century, Economic History, Finance / General, Real Estate / General, Real Estate / Mortgages
Type
Textbook
Subject Area
Business & Economics, History
Author
Jonathan Rose, Kenneth Snowden, Price V. Fishback
Series
National Bureau of Economic Research Series on Long-Term Factors in Economic Development Ser.
Format
Hardcover

Dimensions

Item Height
0.7 in
Item Weight
14.1 Oz
Item Length
9 in
Item Width
6 in

Additional Product Features

Intended Audience
Scholarly & Professional
Dewey Edition
23
Reviews
An impressive analysis of the Home Owners Loan Corporation. . . . In this slim volume, [Fishback, Rose, and Snowden] have produced a skillful short- and long-term analysis of both mortgage markets and a significant New Deal agency. . . The book will be essential reading for all Great Depression scholars and for those interested in the impact of policy initiatives on the US nonfarm housing sector., The recent foreclosure crisis rekindled interest in the Home Owners' Loan Corporation (HOLC) beyond historians of the Great Depression, with many commentators and policy makers viewing HOLC as a model for a policy response. With Well Worth Saving, Price Fishback, Jonathan Rose, and Kenneth Snowden offer a new history of the program alongside an economic analysis of its costs and benefits. This is a highly useful, well-organized, and interesting book which will be of great interest and use both to researchers and policy makers., Well written, easily accessible, beautifully presented, and brief, . . . this would be well-suited as a primer on the issues of mortgage finance, home ownership and state intervention in the housing market for those interested in the history of the New Deal as well as for contemporary comparison., The context that Fishback, Rose, and Snowden provide is important for two reasons. First, it is crucial to understand the important role that HOLC played in response to the Depression-era mortgage crisis. Second, it greatly informs the authors' concluding thoughts on whether a HOLC-type program would have been an appropriate response to the recent housing crisis. Recommended., For Well Worth Saving , Price Fishback, Jonathan Rose, and Kenneth Snowden have assembled compelling new data to reassess the costs and benefits of the Home Owner's Loan Corporation, developing the broader intellectual history of housing support and relating their findings to the recent financial crisis in the United States and current government programs aimed at providing relief to distressed mortgage holders. This is a well-executed and thorough work., A comprehensive analysis of the Home Owners' Loan Corporation. . . . The authors do an excellent job giving historical context to the program and explaining why events played out the way they did. They also compare and contrast the mortgage crises of the 1930s and the 2000s and explain why today it would be more difficult to implement a program like the HOLC. I learned a great deal from this book and recommend it unequivocally., An impressive analysis of the Home Owners Loan Corporation. . . . In this slim volume, [Fishback, Rose, and Snowden] have produced a skilful short- and long-term analysis of both mortgage markets and a significant New Deal agency. . . The book will be essential reading for all Great Depression scholars and for those interested in the impact of policy initiatives on the US nonfarm housing sector., For  Well Worth Saving , Price Fishback, Jonathan Rose, and Kenneth Snowden have assembled compelling new data to reassess the costs and benefits of the Home Owner's Loan Corporation, developing the broader intellectual history of housing support and relating their findings to the recent financial crisis in the United States and current government programs aimed at providing relief to distressed mortgage holders. This is a well-executed and thorough work.
Illustrated
Yes
Dewey Decimal
332.7220973
Table Of Content
Preface 1 Introduction 2 The Patchwork Mortgage Market in the 1920s 3 The Mortgage Crisis 4 Pressures for Government Action 5 The Economic Rationale for the HOLC 6 An HOLC Primer 7 The Lenders' Good Deal 8 The Borrowers' Good Deal 9 Repairing Mortgage and Housing Markets 10 The Cost to Taxpayers and Subsidies to the Housing Market 11 Conclusion Appendix: Walking through the Analysis of the Impact of the HOLC Notes References Index
Synopsis
The urgent demand for housing after World War I fueled a boom in residential construction that led to historic peaks in home ownership. Foreclosures at the time were rare, and when they did happen, lenders could quickly recoup their losses by selling into a strong market. But no mortgage system is equipped to deal with credit problems on the scale of the Great Depression. As foreclosures quintupled, it became clear that the mortgage system of the 1920s was not up to the task, and borrowers, lenders, and real estate professionals sought action at the federal level. Well Worth Saving tells the story of the disastrous housing market during the Great Depression and the extent to which an immensely popular New Deal relief program, the Home Owners' Loan Corporation (HOLC), was able to stem foreclosures by buying distressed mortgages from lenders and refinancing them. Drawing on historical records and modern statistical tools, Price Fishback, Jonathan Rose, and Kenneth Snowden investigate important unanswered questions to provide an unparalleled view of the mortgage loan industry throughout the 1920s and early '30s. Combining this with the stories of those involved, the book offers a clear understanding of the HOLC within the context of the housing market in which it operated, including an examination of how the incentives and behaviors at play throughout the crisis influenced the effectiveness of policy. More than eighty years after the start of the Great Depression, when politicians have called for similar programs to quell the current mortgage crisis, this accessible account of the Home Owners' Loan Corporation holds invaluable lessons for our own time.
LC Classification Number
HG3729.U5F57 2013

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