, the nature of the housing stock, and the organization of residential activity. We start by providing some background on … tax policy, to influence a household’s decision to own or rent, and how shifts in the demand for owner-occupied housing … are translated into housing prices and quantities, given the unusual nature of housing supply. We consider the …

The sensitivity of housing demand to mortgage rates and available leverage is key to understanding the effect of … monetary and macroprudential policies on the housing market. However, since there is generally no exogenous variation in these … financing scenarios. We vary down payment constraints, mortgage rates, and non-housing wealth. We find that a relaxation of down …

housing market at lower rates, and lingering much longer in parents’ households. This paper begins with descriptive evidence … recession, particularly for student borrowers. In an effort to decompose the contributions of housing market, labor market, and …

We explore a mostly undocumented but important dimension of the housing market crisis: the role played by real estate … delinquencies, by real estate investors. In states that experienced the largest housing booms and busts, at the peak of the market … important implications for policies designed to address the consequences and recurrence of housing market bubbles. …

property tax lock-in—on household mobility. We add the 2009 wave of the American Housing Survey (AHS) to our sample and also …

' monthly mortgage payments for a large sample of prime adjustable-rate mortgages. Applying a 26 percent average monthly payment … conforming adjustable-rate mortgages with loan-to-value ratios above 80 percent declines by 3.8 percentage points. If we assume … per dollar of balance for mortgages that refinance under HARP. …

Fixed-rate mortgages (FRMs) dominate the U.S. mortgage market, with important consequences for household risk … freezes, the share of FRMs is sharply higher among mortgages eligible to be securitized through the still-liquid agency MBS …