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Measuring mortgage credit availability : a frontier estimation approach

Anenberg, Elliot; Hizmo, Aurel; Kung, Edward; Molloy, … - 2017

We construct a new measure of mortgage credit availability that describes the maximum amount obtainable by a borrower of given characteristics. We estimate this "loan frontier" using mortgage originations data from 2001 to 2014 and show that it reflects a binding borrowing constraint. Our...

Persistent link: https://www.econbiz.de/10011803181

Student Loans and Homeownership

Mezza, Alvaro - 2017

We estimate the effect of student loan debt on subsequent homeownership in a uniquely constructed administrative … lowers the homeownership rate by about 1.5 percentage points for public 4-year college-goers during their mid 20s, equivalent … to an average delay of 2.5 months in attaining homeownership. Validity tests suggest that the results are not confounded …

Persistent link: https://www.econbiz.de/10012970032

What are the Perceived Barriers to Homeownership for Young Adults?

Larrimore, Jeff - 2016

declining interest in homeownership, especially among younger households. Potential reasons that have been posited include tight … homeownership for households with heads under age 40. However, it appears that young households' perceived barriers to homeownership …

Persistent link: https://www.econbiz.de/10013210378

Nominal Mortgage Contracts and the Effects of Inflation on Portfolio Allocation

Nichols, Joseph - 2008

Households who wish to extract home equity through refinancing their mortgage face a hidden transaction cost. The real value of the fixed nominal mortgage payment declines over time with inflation. The change in the real value of the mortgage payments from taking on a new mortgage is positive...

Persistent link: https://www.econbiz.de/10014216526

How Much are Car Purchases Driven by Home Equity Withdrawal?

McCully, Brett - 2020

Previous research indicates that changes in housing wealth affect consumer spending on cars. We find that home equity extraction plays only a small role in this relationship. Consumers rarely use funds from equity extraction to purchase a car directly, even during the mid-2000s housing boom;...

Persistent link: https://www.econbiz.de/10012855857

The Effect of Gasoline Prices on Household Location

Molloy, Raven - 2011

Gasoline prices influence where households decide to locate by changing the cost of commuting. Consequently, the substantial increase in gas prices since 2003 may have reduced the demand for housing in areas far from employment centers, leading to a decrease in the price and/or quantity of...

Persistent link: https://www.econbiz.de/10013122104

Rural affordable rental housing : quantifying need, reviewing recent federal support, and assessing the use of low income housing tax credits in rural areas

Dumont, Andrew - 2018

Recently, there has been significant interest in the high levels of rental cost burden being experienced across the United States. Much of this scholarship has focused on rental cost burdens in larger urban areas, or at the national level, and has not explored differences in the prevalence of...

Persistent link: https://www.econbiz.de/10012016575

Do mortgage subsidies help or hurt borrowers?

Rappoport, David E. - 2016

Mortgage subsidies affect homeownership costs by reducing effective mortgage rates and increasing house prices. I show …

Persistent link: https://www.econbiz.de/10011578745

Can more housing supply solve the affordability crisis? : evidence from a neighborhood choice model

Anenberg, Elliot; Kung, Edward - 2018

We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so that the number of households choosing each neighborhood is equal to...

Persistent link: https://www.econbiz.de/10011932213

Second home buyers and the housing boom and bust

García, Daniel - 2019

Record-high second home buying (homeowners acquiring nonprimary residences) was a central feature of the 2000s boom, but the macroeconomic effects remain an open question partly because reliable geographic data is currently unavailable. This paper constructs local data on second home buying by...

Persistent link: https://www.econbiz.de/10012181054