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model that shows how the effect of an immigrant inflow in a district affects local housing prices through changes in how … tested using a novel dataset on housing prices and population variables at the district level for a sample of 20 large … immigrants across districts to predict current settlements. We find that immigration raises average housing prices at the city …
Persistent link: https://www.econbiz.de/10011099635
Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … inference is confounded by house price levels, which are systematically correlated with housing risk in an intuitive way: in …
Persistent link: https://www.econbiz.de/10011126690
This paper solves an empirically parameterised model of life-cycle consumption which extends the precautionary savings models of Carroll (1997), and Deaton (1991), to allow for uncollaterized borrowing and default. In case households choose to default: (i) their access to credit markets is...
Persistent link: https://www.econbiz.de/10011071178
We use detailed data on housing prices in Italy available for a large number of years and with a fine geographical … breakdown to compute capital gains and losses on the most widespread asset among consumers, housing, and inquire whether changes … in housing values affect consumption. We find that consumer expenditures do react to capital gains, with a marginal …
Persistent link: https://www.econbiz.de/10005113619
after entering homeownership. The negative link can be rationalized by portfolio considerations: leveraged housing …
Persistent link: https://www.econbiz.de/10011126138
housing finance in the last five years: a greater variety of mortgage products is supplied, along with a widespread easing of …
Persistent link: https://www.econbiz.de/10005113690
. We find that the MID only boosts homeownership attainment of higher income households in less tightly regulated housing …
Persistent link: https://www.econbiz.de/10010884709
regulated housing markets. In more restrictive places an adverse effect exists. The MID is an ineffective policy to promote …
Persistent link: https://www.econbiz.de/10011126437