I create a time series of weekly ratios of Google searches, in the US, on buying and selling in the Real Estate Category of Google Trends. I call this ratio the Google US Housing Market BUSE Index or simply the BUSE index. It expresses the number of "buy"-searches for each "sell"-search which,...

In seiner jüngeren Geschichte war Deutschland mit vielen tiefgreifenden ökonomischen Krisen konfrontiert. Diese wirkten sich vollkommen unterschiedlich auf den Wohnimmobilienmarkt aus. Einige Krisen machten sich auf nationaler, andere hingegen lediglich auf regionaler Ebene bemerkbar. Manche...

Die Situation des deutschen Mietwohnungsmarkts wird aktuell gesellschaftlich breit diskutiert. Ein Nachfrageüberhang, der sich vorwiegend auf urbane Räume konzentriert, hat in den letzten Jahren zu einem deutlichen Anstieg der Mieten geführt. Da die Einwohner in Deutschland überwiegend...

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...

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...

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...

We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis even after controlling for capital,...

Following popular discourse, we abuse economic terminology by defining the housing shortage in the United States as the difference between the number of homes that would be built in the absence of supply constraints and the actual number of homes. The magnitude of the housing shortage is...

The environment for investment in housing construction has changed drastically. Rising interest rates and construction costs are leading to a signifi cant decline in investment activity. This will exacerbate the shortage on the housing market, as refugees from Ukraine also require housing on a...

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...