Independent Newsmedia
Research from the W.P. Carey School of Business shows America’s housing market is starting to recover from the Great Recession, but some areas of the country are fighting back faster than others.
Mortgage law is playing a distinctive role in each state’s housing recovery, an Arizona State University professor contends.
“The laws across states use different legal theories as the basis for mortgages, and they balance the rights of creditors and borrowers very differently,” explains Assistant Professor of Real Estate Andra Ghent of the W. P. Carey School of Business. “The variations started early in America’s history, and they’re not really based on economic reasons, but they’re still having a major influence on what’s happening now with the housing market.”
