Honors Program

University Honors

Date of Award


Thesis Professor(s)

Frederick Steb Hipple

Thesis Professor Department

Economics and Finance

Thesis Reader(s)

Steve Rochelle, Pat Cronin


In 2007, the United States suffered what is known as the "Subprime Mortgage Crisis". This took an enormous toll on the United States Economy. However, nearby country, Canada did not experience this situation. The objective of this thesis is to determine why such different outcomes were seen in order for future economic stability. This research will examine mortgage processes, mortgage management, foreclosures on mortgages of both countries. It will then paint the economic picture that each country faced in 2007, while providing an explanation as to why the United States fared much worse than Canada during this time.

Document Type

Honors Thesis - Open Access

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