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It’s a wonderful life: A short history of building and loan associations

Summary:
We all remember the movie It’s a Wonderful Life which is often used to explain Bank run. In the movie Bailey Brothers Building and Loan is a building and loan association. David A. Price and John R. Walter document hstory of these loan associations in this Nice research (came in Jan-2019): Prior to the advent of modern home mortgage markets in the United States, markets in which mortgage-backed securities and government-sponsored enterprises now play significant roles, prospective homebuyers had to rely on other mechanisms of home finance. For about a century, cooperative organizations known as building and loan associations, a concept imported from Britain, served millions of American savers and homebuyers. This entry was posted on

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We all remember the movie It’s a Wonderful Life which is often used to explain Bank run. In the movie Bailey Brothers Building and Loan is a building and loan association.

David A. Price and John R. Walter document hstory of these loan associations in this Nice research (came in Jan-2019):

Prior to the advent of modern home mortgage markets in the United States, markets in which mortgage-backed securities and government-sponsored enterprises now play significant roles, prospective homebuyers had to rely on other mechanisms of home finance. For about a century, cooperative organizations known as building and loan associations, a concept imported from Britain, served millions of American savers and homebuyers.

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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