Prime property institutions for a subprime era: Toward innovative models of homeownership

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Berkeley Business Law Journal, 8(1), 2011.
To cite or link this document: Arruñada, Benito Lehavi, Amnon
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa 2010-05-01
dc.identifier.citation Berkeley Business Law Journal, 8(1), 2011.
dc.description.abstract This Article breaks new ground toward contractual and institutional innovation in models of homeownership, equity building, and mortgage enforcement. Inspired by recent developments in the affordable housing sector and other types of public financing schemes, we suggest extending institutional and financial strategies such as time- and place-based division of property rights, conditional subsidies, and credit mediation to alleviate the systemic risks of mortgage foreclosure. Two new solutions offer a broad theoretical basis for such developments in the economic and legal institution of homeownership: a for-profit shared equity scheme led by local governments alongside a private market shared equity model, one of "bootstrapping home buying with purchase options".
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1217
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.title Prime property institutions for a subprime era: Toward innovative models of homeownership
dc.type info:eu-repo/semantics/workingPaper 2014-06-03T07:14:26Z
dc.subject.keyword Business Economics and Industrial Organization
dc.subject.keyword Finance and Accounting
dc.subject.keyword property
dc.subject.keyword homeownership
dc.subject.keyword mortgage
dc.subject.keyword finance
dc.subject.keyword local government
dc.subject.keyword subsidy
dc.subject.keyword tax.
dc.rights.accessRights info:eu-repo/semantics/openAccess

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