Remarks at The Spread between Primary and Secondary Mortgage Rates: Recent Trends and Prospects Workshop, New York City.

Testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Washington, D.C.

This paper provides updated estimates of the impact of three financial frictions—negative equity, mortgage lock-in, and property tax lock-in—on household mobility. We add the 2009 wave of the American Housing Survey (AHS) to our sample and also create an improved measure of permanent moves...

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

Remarks at the Connecticut Business and Industry Association/MetroHartford Alliance Economic Summit and Outlook 2011, Hartford, Connecticut

Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.

Opening Remarks at the Distressed Residential Real Estate: Dimensions, Impacts, and Remedies Conference, New York City.

Remarks at the at the Society of American Business Editors and Writers Fall Conference, City University of New York, Graduate School of Journalism, New York City.

Using two decades of American Housing Survey data from 1985 to 2005, we estimate the influence of negative home equity and rising mortgage interest rates on household mobility. We find that both factors lead to lower, not higher, mobility rates over time. The effects are economically large --...