modification scheme should address both issues. Given the key role foreclosures play in the adverse housing market dynamics, and … several market failures that the paper identifies, the burden of mortgage debt restructuring should be shared by the taxpayer. … prices falling, lending standards tightening, unemployment rising, and interest rate resets in the pipeline, foreclosures are …

2010, employment and value added in construction are projected to halve as peak housing starts are completed. The … authorities have launched efforts to help limit foreclosures and to activate the underdeveloped rental market. In the medium term …, housing market cyclicality could be reduced by fading out generous home ownership incentives. …

growth of alleviating housing shortages by improving access to mortgage financing. …This paper argues that making affordable home mortgage loans available to a large cross section of the population will … serve both the redistributive and growth-enhancing objectives of poverty reduction policies. The current state of housing …

This paper incorporates house price risk and mortgages into a standard incomplete market (SIM) model. The model is … life-cycle profile of home ownership, and the mortgage default rate. The average coefficients that measure the agents …' ability to self-insure against income shocks are similar to those of a SIM model without housing but housing increases the …

role of the Government Sponsored Enterprises in facilitating the creation of a secondary market for mortgage … analyzes the role of tax deductions in housing finance, including their impact on homeownership and housing consumption. The …-backed securities is also analyzed as well as the role of the Federal Housing Administration. Cross-country comparisons of how housing …

-bust housing cycle. Using comprehensive data on mortgage originations, which we aggregate at the county level, we first establish … carefully control for counties' economic, demographic, and housing market characteristics using both parametric and semi … volatility on the housing market during the recent boom-bust episode. …

groups are found to be driven mostly by income and trends in user costs, and housing markets in these countries seem … to explain, although ample supply, low home ownership, and less complete mortgage markets are likely factors. The impact … of macroeconomic, prudential and structural policies on housing markets can be large and should be a factor in policy …

measured small degree of overvaluation suggests that the Canadian housing market is essentially at equilibrium. …

the recent movements in the average price index have reflected a nationwide housing boom, followed by a nationwide housing …