Vice President, Publisher: Tim Moore
Associate Publisher and Director of Marketing: Amy Neidlinger
Executive Editor: Jim Boyd
Editorial Assistant: Pamela Boland
Operations Specialist: Jodi Kemper
Senior Marketing Manager: Julie Phifer
Assistant Marketing Manager: Megan Graue
Cover Designer: Chuti Prasertsith
Managing Editor: Kristy Hart
Senior Project Editor: Lori Lyons
Copy Editor: Krista Hansing Editorial Services
Proofreader: Apostrophe Editing Services
Indexer: Erika Millen
Compositor: Nonie Ratcliff
Manufacturing Buyer: Dan Uhrig
© 2012 by Milken Institute
Pearson Education, Inc.
Publishing as Prentice Hall
Upper Saddle River, New Jersey 07458
This book is sold with the understanding that neither the authors nor the publisher is engaged in rendering legal, accounting, or other professional services or advice by publishing this book. Each individual situation is unique. Thus, if legal or financial advice or other expert assistance is required in a specific situation, the services of a competent professional should be sought to ensure that the situation has been evaluated carefully and appropriately. The authors and the publisher disclaim any liability, loss, or risk resulting directly or indirectly, from the use or application of any of the contents of this book.
Prentice Hall offers excellent discounts on this book when ordered in quantity for bulk purchases or special sales. For more information, please contact U.S. Corporate and Government Sales, 1-800-382-3419, [email protected]. For sales outside the U.S., please contact International Sales at [email protected].
Company and product names mentioned herein are the trademarks or registered trademarks of their respective owners.
All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.
Printed in the United States of America
First Printing February 2012
ISBN-10: 0-13-701160-1
ISBN-13: 978-0-13-701160-5
Pearson Education LTD.
Pearson Education Australia PTY, Limited.
Pearson Education Singapore, Pte. Ltd.
Pearson Education Asia, Ltd.
Pearson Education Canada, Ltd.
Pearson Educatión de Mexico, S.A. de C.V.
Pearson Education—Japan
Pearson Education Malaysia, Pte. Ltd.
Library of Congress Cataloging-in-Publication Data
Allen, Franklin, 1956-
Fixing the housing market : financial innovations for the future / Franklin Allen, James R.
Barth, Glenn Yago.
p. cm.
Includes bibliographical references and index.
ISBN-13: 978-0-13-701160-5 (hardcover : alk. paper)
ISBN-10: 0-13-701160-1
1. Housing finance. 2. Global Financial Crisis, 2008-2009. I. Barth, James R. II. Yago,
Glenn. III. Title.
HD7287.55.A45 2012
332.7’22--dc23
2011045176