GGR339H1 Lecture Notes - Lecture 8: Housing Association, Redlining, Financialization
29 Sep 2016
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The new urban restructuring finance, debt and foreclosure. Left house (looks new): housed in detroit - 900. Right house (looks old): housed in vancouver - . 5 million. How much is the house worth location not known. Left house (looks new): . 5 million housed in toronto. Right house (looks old): ,000 housed in detroit. How much is the house worth location is known: toronto. Left house (looks new): went on the market for (1915, inflation adjusted (2014): 679, sold for ,000 in 2014. Right house (looks old): went on the market for (1915, inflation adjusted (2012): 000, sold for ,000 in 2012. Bubble what you call it when the housing price is 10x more (the underlining value) Why we have a bubble is because of mortgage credit and how easy it is to get a mortgage.
