Bob Van Order ’66 and Rose Neng Lai, World Scientific Publishing,
March 2024
The authors explain that housing markets and shadow banking have been involved in a kind of “dance” over the last two decades. Side-by-side comparisons look at the dynamics at play between markets, pricing, mortgages, securitization, and “shadow banks” — and how they have factored into booms and busts — in the U.S. and China since the 1980s. When Housing notes that while markets have evolved, the dance is not over. Van Order is a professor at Washington University and was chief economist at Freddie Mac from 1987 until 2002.
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