Mark Calabria on *Shelter From the Storm: How a COVID Mortgage Meltdown Was Averted*
Macro Musings with David Beckworth
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Shelter From the Storm: How a COVID Mortgage Meltdown Was Averted
Mark O'Mara: I want to talk about the U.S. housing market, at least the financing side of it; that's where you work. He says total housing market value was 46.3 trillion, 13.4 trillion in debt, and 33 trillion in equity. 8.8 trillion is funded through agency mortgage-backed security (GSC), he says. "It's hard to overestimate the importance of the mortgage and mortgage-backed securities market"
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