Mortgage Foreclosures and Older Americans: A Decade after the Great Recession

Liar’s Loans, Mortgage Fraud, and the Great Recession

Losses in the market for private label residential mortgage backed securities (RMBS) were at the epicenter of the financial crisis from 2007-2009. Existing research has shown that a substantial portion of the poor performance of the loans securitized in this market was caused by fraudulent origination practices, and that these practices were misrepresented to investors who purchased securities ...

Crash and Wait? The impact of the Great Recession on Retirement Planning of Older Americans.

This study uses data from pre- and post-crash surveys from the Cognitive Economics study to examine the impact of recent stock and labor market wealth losses on the planned retirement ages of older Americans. Regression estimates imply that the average wealth loss between July 2008 and May/June 2009 is associated with an increase in planned retirement age of approximately 2.5 months. Furthermor...

The Welfare State After the Great Recession

Neighborhood effects of concentrated mortgage foreclosures

As the national mortgage crisis has worsened, an increasing number of communities are facing declining housing prices and high rates of foreclosure. Central to the call for government intervention in this crisis is the claim that foreclosures not only hurt those who are losing their homes to foreclosure, but also harm neighbors by reducing the value of nearby properties and in turn, reducing lo...

U.S. Volunteering in the Aftermath of the Great Recession: Were African Americans a Significant Factor?

The Great Recession weakened U.S. families’ abilities to make charitable gifts. Although African Americans are generally especially hard hit by these types of economic crises, they have a long and distinctive history of volunteerism and mutual assistance. Consequently, the purpose of this study is to examine African American volunteering in nonprofit organizations in the aftermath of the 2008–2...