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612-822-4611
Borrowing to Live: Consumer and Mortgage Credit Revisited

Borrowing to Live: Consumer and Mortgage Credit Revisited

Paperback

Series: James A. Johnson Metro

Investing & Finance

ISBN10: 0815774133
ISBN13: 9780815774136
Publisher: Brookings Institution Press
Published: Dec 2 2008
Pages: 289
Weight: 0.96
Height: 0.79 Width: 6.25 Depth: 9.20
Language: English

Americans are awash in debt, and the U.S. economy is in trouble. Credit undergirds daily life more than ever--it has become one of the defining aspects of American life, and the ramifications are becoming clearer by the day. The already considerable damage from a depressed housing market has been exacerbated by the subprime lender implosion, sending shock waves through the financial sector, international economies, and government at all levels. Most low- or moderate-income people borrow, but that should not be construed as uniformly poor judgment or lack of disciplines--Americans are not borrowing merely to keep up with the Joneses, but too often simply to stay afloat.

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Investing & Finance