Real Estate Finance: History, Institutions, and Modern Markets - Lecture 10

Explore the complex history and modern landscape of real estate finance in this comprehensive lecture from Yale University's Financial Markets course. Delve into the evolution of mortgage financing, from the development of property rights to contemporary financial institutions for commercial real estate. Examine the shift from short-term, balloon-payment mortgages to long-term, amortizing mortgages in residential real estate following the Great Depression. Investigate the role of mortgage securitization and government support through entities like Fannie Mae and Freddie Mac. Analyze the impact of collateralized mortgage obligations (CMOs) and moral hazard in mortgage origination, culminating in a discussion of the 2007-2008 financial crisis.

- Chapter 1. Early History of Real Estate Finance & the Role of Property Rights.
- Chapter 2. Commercial Real Estate and Investment Partnerships.
- Chapter 3. Residential Real Estate Financing before the Great Depression.
- Chapter 4. Residential Real Estate Financing after the Great Depression.
- Chapter 5. Mortgage Securitization & Government Support of Mortgage Markets .
- Chapter 6. Mortgage Securities & the Financial Crisis from 2007-2008 .