the midst of a market panic. Treasury officials recognized the dangers arising from mounting foreclosures and worked to … facilitate limited mortgage modifications, but going further was politically unacceptable because public funds would have gone to …

of the timeline of foreclosures and sheriff sales, and the effect they have on the single-family real estate market in … impact to the general real estate market. This paper combines two individual pieces and peruses a comprehensive illustration … considers the time from a foreclosure’s filing until a sheriff sale or redemption. Our second model turns to a probit model …

Econometric evidence suggests the existence of two dynamics in the postwar U.S. housing market: (i) housing rental and … production sector is inconsistent with these facts. We incorporate a rental market into an otherwise standard New Keynesian model … with durables and show that nominal rigidity in the rental market contributes to our empirical findings. …

rational expectations equilibrium criteria within a dynamic stochastic general equilibrium framework. Incorporating housing … to investigate whether responding to housing prices affects determinacy and learnability of rational expectations … equilibrium. For this purpose, we work with a New Keynesian model in which housing plays an accelerator role in business cycles as …

This paper analyzes housing market boom-bust cycles driven by changes in households'expectations. We explore the role … of expectations not only on productivity but on several other shocks that originate in the housing market, the credit … conduct of monetary policy and future productivity can generate housing market boom-bust cycles in accordance with the …

demand shock. Moreover, we find that these housing demand shocks are a key driver of money market rates. We conclude that … aggregate demand shock because it raises output and prices and leads to increasing money market rates in all countries. The … to 20 percent of output fluctuations and around 10 to 20 percent of price fluctuations can be traced back to the housing …

-to-build phenomenon in the housing construction sector. Adding construction sector delays significantly improves business cycle properties … that in the presence of construction lags adding housing prices to the central bank policy function increases aggregate … of the model relative to the versions with no time-to-build delays or with permanently fixed housing stock. We also find …

the US housing market. Employing simple yet rigorous econometric techniques, the present paper finds strong evidence in …This paper empirically investigates cointegrating relation between housing prices and economic fundamental variables in … relation of housing prices with mostly demand-side fundamental variables, which may have a misspecification problem. Further …

. While the literature on geographic cost-of-living differentials is well developed, the literature on geographic housing … price differentials is much less so. Given the relatively large impact of housing prices on overall living costs, this … research seeks to address this issue and shed light on specific factors influencing the real median price of housing across …