human wealth. A decline in house prices reduces the scope for mortgage equity withdrawal. For given sequences of future …

We study the role of institutional characteristics of mortgage markets in affecting the strength and timing of the … facts: (1) there is significant divergence in the structure of mortgage markets across the main industrialized countries; (2 … flexibility/development of mortgage markets; (3) the transmission of monetary policy shocks on consumption and house prices is …

The U.S. house price boom has been linked to an unsustainable easing of mortgage credit standards. However, standard …

supply (associated with the sub-prime mortgage boom) from house price-to-rent ratio and inverted housing demand models …Most US house price models break down in the mid-2000's, due to the omission of exogenous changes in mortgage credit …--the cyclically adjusted loan-to-value ratio for first time buyers--into house price to rent ratio models yields stable long …

We show that since 1994, branching deregulations in the U.S have significantly affected the supply of mortgage credit …, and ultimately house prices. With deregulation, the number and volume of originated mortgage loans increase, while denial … rates fall. But the deregulation has no effect on a placebo sample, formed of independent mortgage companies that should not …