Book Review

摘要

Foreclosed places the 2007-8 housing crisis as the unsurprising outcome of changes in U.S. regulatory policy combined with predictable investor behavior. It describes each aspect of the complex web of interactions that create the mortgage market. By examining interactions and consequences of these factors, Immergluck reconstructs the evolution leading to the subprime crisis. By explaining how these factors interact with and intensify one another, their disastrous outcomes become foreseeable, if not obvious.