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Four years after the financial crisis started with the housing market collapse at its center, the housing scene still faces a lot of the same problems, yet many see signs of improvement.
Global real estate may be in a slump now, but as urbanization continues to sweep the globe, the industry must develop innovative ways to provide ecologically sound, affordable housing. Investment opportunities in the sector, though slowed now, will continue to be profitable.
Wharton finance professor Richard Herring explains what makes mortgage-backed securities unique and what role they played in the current subprime problem.
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