In the first half of this decade, US house prices experienced significant real rates of appreciation. The dramatic increase in house prices led some economists to conclude that there was a speculative bubble in the US housing market. This paper explores how much of the recent appreciation in US...

This article examines the substantial housing stock declines between 2000 and 2010 in many major US central cities. It updates an analysis first formulated in the 1970s, of an S-shaped housing supply curve, to explain decreases in absolute housing stocks. Explanatory variables include...

Using a national loan level data set we examine loan default as explained by local demographic characteristics and state level legislation that regulates foreclosure procedures and predatory lending, using a hierarchical linear model. When controlling for loan and local conditions, we observe...