Fed Researchers Suggest ‘New Narrative’ for Housing Boom Before Financial Crisis: Subprime Mortgages Not to Blame
September 13, 2018
Ten years after the start of the financial crisis, the conventional wisdom is that the housing boom was driven by subprime mortgages. Federal Reserve researchers recently offered a “new narrative” about the crisis: borrowers who received subprime mortgages didn’t inflate the housing bubble.
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