CHARLOTTESVILLE, Va., Sept. 25 -- The University of Virginia issued the following news release:
The U.S. housing bubble of the early 2000s sent home prices soaring before the market crashed in 2007-08, triggering a foreclosure crisis and a deep recession.
A popular explanation is that lenders suddenly made it much easier to buy a home with a very small down payment. But W. Ben McCartney, an assistant professor at the University of Virginia's McIntire School of Commerce, examined 25 years of mortgage data and found a different story.
W. Ben McCartney, an assistant professor at UVA's McIntire School of Commerce, analyzes 25 years of mortgage data to better understand who takes on risk in the housing market. (Contributed photo)
McCartney s...