Document Type
Discussion Paper
Publication Date
1-1-2014
CFDP Number
1934
CFDP Pages
8
Abstract
The institutions for financing owner-occupied housing have not progressed as they should, and the financial innovation that has followed the financial crisis of 2007-9 has not been focused on improving the risk management of individual homeowners. This paper lists a number of barriers to housing finance innovation, and in light of these barriers, the problems of some major innovations of the past and future: self-amortizing mortgages, price-level adjusted mortgages (PLAMs), shared appreciation mortgages (SAMs), housing partnerships, and continuous workout mortgages (CWMs).
Recommended Citation
Shiller, Robert J., "Why Is Housing Finance Still Stuck in Such a Primitive Stage?" (2014). Cowles Foundation Discussion Papers. 2333.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/2333