Publication Date

January 2006


This article traces the evolution of the housing finance system in the U.S., with particular attention to changes from the 1960s through the early 2000s. The paper shows the trends to increasing risk taking by lenders and households, predicting the collapse of the mortgage system in the mid 2000s.


The author is the copyright holder.


Temple University Press



To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.