13  For information on online alternative lenders, see U.S. Treasury (2015, p. 6); for more on unsecured consumer loans and small business loans, see Morgan Stanley Research (2015).
The cost of housing and how we finance it matters to us all. We all need somewhere to live and for many people, their home is their largest single asset. Real estate is also the major form of collateral for bank lending. The levels of debt and housing prices also affect the resilience of our economy to future shocks.