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Quality of life differences across areas can be measured by differences in "real wages" where real wages are computed as nominal wages adjusted for the cost of living. Computing cost of living differences involves several important issues, including how housing prices should be measured....
Persistent link: https://www.econbiz.de/10009568788
This paper investigates post-2000 trends in homeownership rates in the US by immigrant status, race, and ethnicity …. Homeownership rates for most groups examined rose during the housing boom of the early and mid-2000s but fell during and after the … housing bust. By 2015 homeownership rates had fallen below year 2000 levels for most groups but not all. In particular, some …
Persistent link: https://www.econbiz.de/10011672863
In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the way houses are bought and sold in the United States. Our model is consistent with the observation that houses are sometimes sold above, sometimes below and sometimes at the...
Persistent link: https://www.econbiz.de/10003932400
This paper investigates the effects of housing price risk on housing choices over the lifecycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10009006946
This paper investigates the effects of housing price risk on housing choices over the lifecycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets...
Persistent link: https://www.econbiz.de/10009006985
A recent decline in geographic mobility in the United States may have been caused in part by falling house prices, through the "lock in" effects of financial constraints faced by households whose housing debt exceeds the market value of their home. I analyze the relationship between such "house...
Persistent link: https://www.econbiz.de/10009665520
homeownership rates declined during this period, though some immigrants were less severely affected compared to natives. In this … crisis and increasing the probability of their homeownership. Specifically we examine to what extent birthplace networks …, savings, length of stay in the U.S., and citizenship status affect the probability of homeownership before the recession and …
Persistent link: https://www.econbiz.de/10009763229
homeownership experience during the recent housing boom and housing bust was not homogenous across all groups in the U.S. The recent … deterioration of underwriting practices and a boom in mortgage lending did not benefit minorities and immigrant homeownership in the … U.S. Blacks experienced significantly lower increase in homeownership than the whites but highest exit from …
Persistent link: https://www.econbiz.de/10009683009
less consistently predicted to have less equity than whites. We find that race gaps in homeownership, typically attributed …
Persistent link: https://www.econbiz.de/10002485596
This paper shows that imperfect information about school quality causes low-income families to live in neighborhoods with lower-performing, more segregated schools. We randomized the addition of school quality information onto a nationwide website of housing listings for families with housing...
Persistent link: https://www.econbiz.de/10012179214