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In this tutorial, Erica from Gokuche Capital discusses the state of mortgages during the Great Depression, highlighting that in 1931, foreclosure rates increased to 1.4%, and by 1934, roughly half of all mortgages were delinquent. Prior to the Depression, the mortgage market had evolved from community savings and loans into a commercial market, spurred by insurance companies. Mortgages at that time differed significantly from modern ones, featuring short terms of five to ten years, interest-only payments, and requiring substantial down payments of about 50%. Despite these large down payments, the mortgages were still insecure.
