Showing 1 - 10 of 132
Real estate markets are periodically plagued by excess supply, rent concessions and few arms-length transactions …
Persistent link: https://www.econbiz.de/10013139872
. Subsequently, housing-price inequality has risen to pre-War levels, while rent inequality has risen less. Combining both measures …
Persistent link: https://www.econbiz.de/10013000510
rent are strongly correlated with perceptions of house price risk. Households' exposure to housing risk due to financial … constraints, expected mobility or labor income risk affect the decision to buy versus rent but do not mitigate the impact of risk …
Persistent link: https://www.econbiz.de/10012910636
rent level that is closer to the city of origin, relative to comparable locals. Building on “Memory, Attention, and Choice … database of experiences such as rents. The current rent cues recall of past rents, giving rise to a rental norm. A large … discrepancy between the current rent and the memory-based norm surprises and attracts the mover's attention, distorting choice …
Persistent link: https://www.econbiz.de/10012890485
This paper examines the impact of a property rights reform in rural China that allowed farmers to lease out their land. We find the reform led to increases in land rental activity in rural households. Consistent with a model of transaction costs in land markets, our results indicate that the...
Persistent link: https://www.econbiz.de/10012941473
This paper employs a simple intertemporal model to show that presence of liquidity constraints can depress the price of a durable good below its net present rental value, regardless of the overall supply elasticity. The existence of price effects implies that the relaxation of liquidity...
Persistent link: https://www.econbiz.de/10012762617
overage options to that of the tenant renewal option at the same initial rent. As a result, not only are the values of the …
Persistent link: https://www.econbiz.de/10012762979
queuing frictions in the market for public housing. Having access to rent-stabilized housing increases household welfare by up …
Persistent link: https://www.econbiz.de/10012867446
Growth has fallen in the U.S., while firm concentration and profits have risen. Meanwhile, labor's share of national income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which the driving force is falling firm-level costs of...
Persistent link: https://www.econbiz.de/10012859683
We test for the existence of housing bubbles associated with a failure of the transversality condition that requires the present value of payments occurring infinitely far in the future to be zero. The most prominent such bubble is the classic rational bubble. We study housing markets in the...
Persistent link: https://www.econbiz.de/10013053476