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Informing the Future of Housing Finance: Lessons from the Recent Past

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A speech delivered by Charles Evans, President, Chicago Federal Reserve, August 24, 2010 in Indianapolis, Indiana.

  • “…homeownership is only good for families and communities if it can be sustained. Home purchases that are very highly leveraged or unaffordable subject the borrower to a great deal of risk. There’s no guarantee, as we’ve learned recently, that prices have to rise. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets represent vulnerabilities for highly leveraged borrowers.”
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