Mian: Shared responsibility mortgages would have prevented 2008 foreclosures
Atif Mian · a16z Podcast | Real Estate -- Ownership, Asset, Economy · Jan 2, 2019 · at 13:40
Economist Atif Mian, co-author of 'House of Debt', discusses how indexing mortgage principal to local zip-code home price indices reduces systemic default risk during housing busts.
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“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.”
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