mortgage credit in the postwar era, supports the model. The results suggest that more recent mortgage market innovations have …

, but the home mortgage interest deduction is a particularly poor instrument for encouraging homeownership since it is …The home mortgage interest deduction creates incentives to buy more housing and to become a homeowner, and the case for … the deduction rests on social benefits from housing consumption and homeownership. There is little evidence suggesting …

expansion of U.S. homeownership using an equilibrium model of tenure choice. In the model, home buyers have access to a menu of … mortgage choices to finance the acquisition of a house. The government also provides special programs through provisions of the ….S. economy and is capable of accounting for the boom in homeownership in 1960. The decomposition suggests that government …

increased 1940 median home values and homeownership rates, but not new home building …

declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by … of the increase for affected cohorts. A rough extrapolation suggests that broader changes in mortgage terms may explain …

This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances … shocks and raise concerns about homeownership as a mechanism for reducing racial disparities in wealth …

We use survey data to study American households' propensity to default when the value of their mortgage exceeds the … value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing … the house. Yet, 17% of households would default, even if they can afford to pay their mortgage, when the equity shortfall …

This paper documents a number of key facts about the evolution of mortgage debt, homeownership, debt burden and … subsequent delinquency during the recent housing boom and Great Recession. We show that the mortgage expansion was shared across … mortgage expansion was especially pronounced in areas with increased house prices, and the speed at which houses turned over …