Brian Romanchuk — Housing Bubbles And Their Financing

Housing finance is interesting, and offers an interesting take on some theoretical issues. Although the theoretical issues sound abstract, they are critical issues in economies facing a housing bubble. This article looks at one aspect of housing finance: the limit to financing is credit risk, not funding. Monetary flows in a credit-based economy are circular.

Bond Economics
Housing Bubbles And Their Financing

Brian Romanchuk