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Subprime: "A disproportionate number of those being foreclosed on were well-educated, well-off and relatively young people"

10/11/11

William R. Emmons, Kathy Fogel, Wayne Y. Lee, Deena Rorie, Liping Ma and Timothy J. Yeager, The Foreclosure Crisis in 2008: Predatory Lending or Household Overreaching? St. Louis Fed, July 2011

At least early in the financial crisis, the high rate of foreclosures seemed to be due more to households' overreaching than to predatory lending. A disproportionate number of those being foreclosed on were well-educated, well-off and relatively young people. get to the paper

Keywords: Subprime Crisis, Lending, Predatory Lending

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