Foote, Christopher L.; Gerardi, Kristopher; Götte, Lorenz - 2009
sources and magnitude of income variation
among U.S. residents. The substantial degree of churning in the labor market … source of distress in the housing market, then a policy that grants troubled
borrowers substantial but temporary assistance …
identified in the previous section, including falling house prices, labor income shocks, and
high DTI ratios. Because a loan that …