Assorted links
I. Mortgage default during the Great Recession came from real estate investors, not subprime credit holders: The Global Crisis narrative has suggested that an expansion of subprime credit was the reason for rising mortgage defaults, leading to the large-scale recession in 2007-09. Taking a closer look at the characteristics of subprime credit holders over the period, this column argues that the growth in mortgage defaults did not occur predominantly amongst subprime credit holders. Instead, it was real estate investors that played a critical role in the rise in mortgage debt, specifically among the middle and the top of the credit score distribution (VOX).
II: Solar energy will surpass nuclear by the end of the year:
Source: WEF
Plus: China's renewable energy revolution. China is at the center of a global energy transformation, which is being driven by technological change and the falling cost of renewables (McKinsey).
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