Atif Mian, economist and Princeton professor, argues that financial regulations and tax policy artificially favor mortgage debt over shared-equity arrangements.
“More risk-sharing contracts, more equity-like contracts actually are better for a macro economy.”
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More from Atif Mian
What-if
Mian: Shared responsibility mortgages would have prevented 2008 foreclosures
“We argue in the book that if we have those kind of arrangements, a significant or substantial portion of the foreclosures and the resulting economic losses from those foreclosures could have been avoided.”
Mian: Housing markets consistently lead broader economic cycles across advanced nations
“If you look at the rest of the advanced economies, you see similar patterns over and over again. Which is that the housing market seems to lead where the rest of the economy is going.”
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