[Online Event] Housing Markets in Turmoil: Now and Then
Abstract: The Great Financial Crisis saw housing prices plummet amidst the worst downturn since the Depression. Now once again there are threats of a recession and plummeting housing prices. A major difference between now and then is the absence of cheap subprime mortgages that evaporated in the 2007-9 bust. Nonetheless, low-interest rates prevailed before the current turmoil and helped fuel a 40% rise in housing prices over the past 2 years. What can we learn from the past about how policy and markets will impact housing in the uncertain future ahead?
Speaker: Susan Wachter is the Sussman Professor of Real Estate and Professor of Finance at The Wharton School of the University of Pennsylvania and co-director of the Penn Institute for Urban Research. From 1998 to 2001, as Assistant Secretary for Policy Development and Research, Wachter served as the senior urban policy official and principal advisor to the Secretary of the Department of Housing and Urban Development. Wachter has been a member of the Office of Financial Research Advisory Committee of the U.S. Treasury and is currently an advisory committee member of the Bureau of Economic Analysis of the Department of Commerce. Wachter is the 2022 recipient of the Quigley Medal for Advancing Real Estate and Urban Economics. A prolific author, Wachter is frequently cited in national media, such as the New York Times, the Wall Street Journal, and Bloomberg Businessweek..
- Wednesday, October 19, 2022
- 5:30pm - 6:30pm