• Media type: E-Book
  • Title: Repairing a Mortgage Crisis : HOLC Lending and its Impact on Local Housing Markets
  • Contributor: Courtemanche, Charles [Author]; Snowden, Kenneth A. [Other]
  • Corporation: National Bureau of Economic Research
  • Published: Cambridge, Mass: National Bureau of Economic Research, July 2010
  • Published in: NBER working paper series ; no. w16245
  • Extent: 1 Online-Ressource
  • Language: English
  • DOI: 10.3386/w16245
  • Identifier:
  • Reproduction note: Hardcopy version available to institutional subscribers
  • Origination:
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  • Description: The Home Owners' Loan Corporation purchased more than a million delinquent mortgages from private lenders between 1933 and 1936 and refinanced the loans for the borrowers. Its primary goal was to break the cycle of foreclosure, forced property sales and decreases in home values that was affecting local housing markets throughout the nation. We find that HOLC loans were targeted at local (county-level) housing markets that had experienced severe distress and that the intervention increased 1940 median home values and homeownership rates, but not new home building
  • Access State: Open Access