Foreclosures and mortgage lending during the Great Depression

Resource Type
  • Fishback, Price (University of Arizona)
  • Fleitas, Sebastian (University of Leuven)
  • Rose, Jonathan (Federal Reserve Bank of Chicago)
  • Snowden, Ken (University of North Carolina Greensboro)
Publication Date
Funding Reference
  • National Science Foundation
    • Award Number: SES-1061927
Free Keywords
Mortgage; foreclosure; Great Depression (1929); building and loan
  • Abstract

    These are the replication files for the paper "Collateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in the 1930s" to be published in the September 2020 issue of the Journal of Economic History.

    Abstract of the paper: The Great Depression of the 1930s involved a severe disruption in the supply of home mortgage credit. This paper empirically identifies a mechanism lying behind this credit crunch: the impairment of lenders’ balance sheets by illiquid foreclosed real estate. With data on hundreds of building and loans (B&Ls), the leading mortgage lenders in this period, we find that the overhang of foreclosed real estate explains about 30 percent of the drop in new lending between 1930 and 1935
Temporal Coverage
  • 1927-01-01 / 1940-12-31
    Time Period: Sat Jan 01 00:00:00 EST 1927--Tue Dec 31 00:00:00 EST 1940
Geographic Coverage
  • United States

Update Metadata: 2020-06-04 | Issue Number: 1 | Registration Date: 2020-06-04