Time To Stop Betting The House: Mortgages, Resilience & The Long Finance

Abstract

"Time To Stop Betting The House" pulls together the story of the role of mortgages in the financial crisis of 2007/2008. It analyses the situation and presents us with two clear, as well as two quite different, regulatory visions for a more resilient mortgage market. The Edited Choice vision offers borrowers a limited menu of mortgage options, while the Melt the Glue vision aims to create resilience from the ground up. Neither vision is exclusive; both are worthy of discussion and debate.

Keywords: Mortgage, Mortgage Market, Financial Crisis, Resilience

JEL Classification: G00, G01