Financing California Real Estate : Spanish Missions to subprime mortgages book cover
1st Edition

Financing California Real Estate
Spanish Missions to subprime mortgages

ISBN 9780367596460
Published June 30, 2020 by Routledge
202 Pages

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USD $48.95

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Book Description

California was at the epicentre of the collapse of the real estate market in 2008, which had a devastating effect on the world economy. Taking this diverse and powerful state as a case study, this book presents a financial history of the property business, from the time Spanish Missions were established to the Great Recession.

Financing California Real Estate provides the history of expansions and contractions in the real estate market, and describes factors in the state and nation which may have triggered changes in the direction of growth in real estate lending. It explores how financial institutions which provided funding for building and buying homes changed over time, from the establishment of Spanish Missions in 1769, to the Gold Rush, to rail transportation, all the way through to the real estate bubble that peaked in 2005. Using detailed information on financial institutions to explain the changing nature of the real estate market, this book ultimately suggests an alternative theory for what led to the Great Recession.

This book will be of interest to researchers working in the area of real estate cycles in the economy, historians interested in the economy of California, and financial historians.

Table of Contents

Introduction and Overview

Importance of real estate cycles

Data Sources

Summary of California Real Estate Cycles

Chapter 1

Serra’s Missions to Sutter’s Fort: to 1848

Chapter 2

Gold Rush to Land Rush: 1848-1855

Chapter 3

The Silver Boom and the Golden Spike: 1860-1880

Chapter 4

The Southern California Land Boom: 1881 – 1919

Chapter 5

Farming, Oil, Movies and Branch Banking: 1920-1932

Chapter 6

Depression and War: 1930 – 1945

Chapter 7

Postwar Housing Boom I: 1946 – 1965

Chapter 8

Postwar Boom Part II: 1965 to 1980

Chapter 9

Crisis, Crime and More Mortgages: 1981-1992

Chapter 10

Derivative Chaos: 1992 to 2008

Chapter 11

The Financial Crisis and the Future of California Real Estate Financing: 2008-2016

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Lynne P. Doti is the David and Sandra Stone Professor of Economics at Chapman University, USA.