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Although the United States has developed highly sophisticated
markets for funding corporate investment projects, markets for
financing home ownership are comparatively rudimentary. When a
corporation wishes to fund a project, it can choose any mix of debt
and equity financing. In contrast, to buy a home, a household must
take on debt in the form of a mortgage. The authors of this book
propose the development of new markets, called Partnership Markets,
that would allow households to use equity finance to buy their
homes. With these new markets, a household would be able to finance
housing not only with a mortgage, but also with an institutional
investor who would provide part of the equity capital for the house
in exchange for a share of the ultimate selling price. The new
markets would offer many benefits to both homeowners and the
broader financial community. In the current market, many Americans
are forced to rent housing because they cannot afford to buy. Those
who do buy are burdened with high debt payments. They also have the
vast majority of their wealth tied up in their home and are exposed
to the high risk levels of such an undiversified portfolio. With
Partnership Markets, households would be able to buy homes with
much smaller mortgages, thereby greatly reducing their expenses.
They would also be able to diversify their assets and create less
risky portfolios. For the broader financial community, Partnership
Markets would provide an opportunity to diversify into the
residential real estate market. To give the reader a rounded view
of their proposal, the authors explain the economic theory of the
housing market and the housing finance market, as well as key
aspects of the institutional structure and performance records of
the current market. They discuss the wider ramifications of their
proposal, including changes in the form and structure of the
secondary market, the government's role in the housing market, the
composition of assets held by institutions, and the general level
of risk for individuals.
In the fall of 2008, the world watched in horror as the U.S.
housing finance system shattered, triggering a global financial
panic and ultimately the Great Recession. Now, nearly a decade
later, the long and slow housing recovery has reached a critical
moment. Though the housing finance system has stabilized, it
remains in the hands of the federal government, leaving taxpayers
exposed to the credit risk while private funding remains mostly on
the sidelines. Principles of Housing Finance Reform identifies the
changes necessary to modernize the housing finance system,
identifying guiding principles that should underlie a rebuilt
system. Contributors to the volume set out a wealth of innovative
solutions that are possible within this framework, presenting
proposals for long-term structural reforms that would infuse new
life into the U.S. housing finance system while enhancing long-term
stability. Nearly a decade after the inception of the Great
Recession, reform proposals have arisen across the political
spectrum. This is a moment of opportunity for rebuilding a key
sector of the U.S. economy. The research in this volume represents
the best thinking of policy researchers and economic experts on the
challenges that lie ahead and provides a roadmap for reforms to
create a system characterized by liquidity, stability, access, and
sustainability. Contributors: W. Scott Frame, Meghan Grant, John
Griffith, Diana Hancock, Stephanie Heller, Akash Kanojia, Patricia
C. Mosser, Kevin A. Park, Wayne Passmore, Roberto G. Quercia, David
Scharfstein, Phillip Swagel, Joseph Tracy, Susan M. Wachter, Dale
A. Whitman, Mark A. Willis, Joshua Wright.
Title: The great awakening: a history of the revival of religion in
the time of Edwards and Whitefield.Author: Joseph TracyPublisher:
Gale, Sabin Americana Description: Based on Joseph Sabin's famed
bibliography, Bibliotheca Americana, Sabin Americana, 1500--1926
contains a collection of books, pamphlets, serials and other works
about the Americas, from the time of their discovery to the early
1900s. Sabin Americana is rich in original accounts of discovery
and exploration, pioneering and westward expansion, the U.S. Civil
War and other military actions, Native Americans, slavery and
abolition, religious history and more.Sabin Americana offers an
up-close perspective on life in the western hemisphere,
encompassing the arrival of the Europeans on the shores of North
America in the late 15th century to the first decades of the 20th
century. Covering a span of over 400 years in North, Central and
South America as well as the Caribbean, this collection highlights
the society, politics, religious beliefs, culture, contemporary
opinions and momentous events of the time. It provides access to
documents from an assortment of genres, sermons, political tracts,
newspapers, books, pamphlets, maps, legislation, literature and
more.Now for the first time, these high-quality digital scans of
original works are available via print-on-demand, making them
readily accessible to libraries, students, independent scholars,
and readers of all ages.++++The below data was compiled from
various identification fields in the bibliographic record of this
title. This data is provided as an additional tool in helping to
insure edition identification: ++++SourceLibrary: Huntington
LibraryDocumentID: SABCP00703300CollectionID:
CTRG10189052-BPublicationDate: 18420101SourceBibCitation: Selected
Americana from Sabin's Dictionary of books relating to
AmericaNotes: Collation: 2 p.l., iii]-xviii, 433 p.: ill., ports.;
22 cm
Title: History of the American Board of Commissioners for Foreign
Missions.Author: Joseph TracyPublisher: Gale, Sabin Americana
Description: Based on Joseph Sabin's famed bibliography,
Bibliotheca Americana, Sabin Americana, 1500--1926 contains a
collection of books, pamphlets, serials and other works about the
Americas, from the time of their discovery to the early 1900s.
Sabin Americana is rich in original accounts of discovery and
exploration, pioneering and westward expansion, the U.S. Civil War
and other military actions, Native Americans, slavery and
abolition, religious history and more.Sabin Americana offers an
up-close perspective on life in the western hemisphere,
encompassing the arrival of the Europeans on the shores of North
America in the late 15th century to the first decades of the 20th
century. Covering a span of over 400 years in North, Central and
South America as well as the Caribbean, this collection highlights
the society, politics, religious beliefs, culture, contemporary
opinions and momentous events of the time. It provides access to
documents from an assortment of genres, sermons, political tracts,
newspapers, books, pamphlets, maps, legislation, literature and
more.Now for the first time, these high-quality digital scans of
original works are available via print-on-demand, making them
readily accessible to libraries, students, independent scholars,
and readers of all ages.++++The below data was compiled from
various identification fields in the bibliographic record of this
title. This data is provided as an additional tool in helping to
insure edition identification: ++++SourceLibrary: Huntington
LibraryDocumentID: SABCP03451100CollectionID:
CTRG00-B1830PublicationDate: 18420101SourceBibCitation: Selected
Americana from Sabin's Dictionary of books relating to
AmericaNotes: Includes index.Collation: viii, 452 p., 1] leaf of
plates: ill., maps
This scarce antiquarian book is a selection from Kessinger
PublishingA AcentsAcentsa A-Acentsa Acentss Legacy Reprint Series.
Due to its age, it may contain imperfections such as marks,
notations, marginalia and flawed pages. Because we believe this
work is culturally important, we have made it available as part of
our commitment to protecting, preserving, and promoting the world's
literature. Kessinger Publishing is the place to find hundreds of
thousands of rare and hard-to-find books with something of intere
This scarce antiquarian book is a selection from Kessinger
Publishing's Legacy Reprint Series. Due to its age, it may contain
imperfections such as marks, notations, marginalia and flawed
pages. Because we believe this work is culturally important, we
have made it available as part of our commitment to protecting,
preserving, and promoting the world's literature. Kessinger
Publishing is the place to find hundreds of thousands of rare and
hard-to-find books with something of interest for everyone!
This is an EXACT reproduction of a book published before 1923. This
IS NOT an OCR'd book with strange characters, introduced
typographical errors, and jumbled words. This book may have
occasional imperfections such as missing or blurred pages, poor
pictures, errant marks, etc. that were either part of the original
artifact, or were introduced by the scanning process. We believe
this work is culturally important, and despite the imperfections,
have elected to bring it back into print as part of our continuing
commitment to the preservation of printed works worldwide. We
appreciate your understanding of the imperfections in the
preservation process, and hope you enjoy this valuable book.
This is an EXACT reproduction of a book published before 1923. This
IS NOT an OCR'd book with strange characters, introduced
typographical errors, and jumbled words. This book may have
occasional imperfections such as missing or blurred pages, poor
pictures, errant marks, etc. that were either part of the original
artifact, or were introduced by the scanning process. We believe
this work is culturally important, and despite the imperfections,
have elected to bring it back into print as part of our continuing
commitment to the preservation of printed works worldwide. We
appreciate your understanding of the imperfections in the
preservation process, and hope you enjoy this valuable book.
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