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Testing for Information Asymmetries in Real Estate Markets

Kurlat, Pablo - 2014

We study equilibrium outcomes in markets with asymmetric information about asset values among both buyers and sellers. In residential real estate markets hard-to-observe neighborhood characteristics are a key source of information heterogeneity: sellers are usually better informed about...

Persistent link: https://www.econbiz.de/10012458789

Is the FHA Creating Sustainable Homeownership?

Caplin, Andrew - 2012

We produce first results on the sustainability of homeownership for recent (2007-2009) FHA-insured borrowers. More than … their graduation to sustainable homeownership by finally paying off all FHA mortgages. We project that the proportion who … completed their graduation to sustainable homeownership. We show that the FHA uses an outmoded econometric model that leads it …

Persistent link: https://www.econbiz.de/10012460470

The Effect of Housing Wealth on College Choice : Evidence from the Housing Boom

Lovenheim, Michael F. - 2012

The higher education system in the United States is characterized by a large degree of quality heterogeneity, and there is a growing literature suggesting students attending higher quality universities have better educational and labor market outcomes. In this paper, we use NLSY97 data combined...

Persistent link: https://www.econbiz.de/10012460584

Anatomy of the Beginning of the Housing Boom : U.S. Neighborhoods and Metropolitan Areas, 1993-2009

Ferreira, Fernando - 2011

We provide novel estimates of the timing, magnitudes, and potential determinants of the start of the last housing boom across American neighborhoods and metropolitan areas (MSAs) using a rich new micro data set containing 23 million housing transactions in 94 metropolitan areas between 1993 and...

Persistent link: https://www.econbiz.de/10012461284

Household Leverage and the Recession

Jones, Callum - 2011

We evaluate and partially challenge the 'household leverage' view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to changes...

Persistent link: https://www.econbiz.de/10012461692

Household Leverage and the Recession of 2007 to 2009

Mian, Atif R. - 2010

We show that household leverage as of 2006 is a powerful statistical predictor of the severity of the 2007 to 2009 recession across U.S. counties. Counties in the U.S. that experienced a large increase in household leverage from 2002 to 2006 showed a sharp relative decline in durable consumption...

Persistent link: https://www.econbiz.de/10012462755

The Influence of the Home Owners' Loan Corporation on Housing Markets During the 1930s

Fishback, Price V. - 2010

Problems with mortgage financing are widely considered to be a major cause of the recent financial meltdown. Several modern programs have been designed to mimic the Home Owners' Loan Corporation of the 1930s. The HOLC replaced the toxic assets on the balance sheets of financial institutions by...

Persistent link: https://www.econbiz.de/10012462827

Can Owning a Home Hedge the Risk of Moving?

Sinai, Todd M. - 2009

Conventional wisdom holds that one of the riskiest aspects of owning a house is the uncertainty surrounding its sale price, especially if one moves to another housing market. However, households who sell a house typically buy another house, whose purchase price is also uncertain. We show that...

Persistent link: https://www.econbiz.de/10012463187

Household Leverage and the Deductibility of Home Mortgage Interest : Evidence from UK House Purchasers

Hendershott, Patric H. - 2002

During the last quarter century, mortgage interest deductibility has been gradually phased out. In 1974 a ceiling was set on the size of the mortgage eligible for interest deductibility (œ30,000 since 1983) and, beginning in 1993, the maximum rate at which interest under that ceiling could be...

Persistent link: https://www.econbiz.de/10012469502

Home Equity Insurance

Shiller, Robert J. - 1994

Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such policies is presented here, and conceptual issues are...

Persistent link: https://www.econbiz.de/10012474085