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Repairing a Mortgage Crisis : Holc Lending and its Impact on Local Housing Markets
Courtemanche, Charles - 2010
increased 1940 median home values and homeownership rates, but not new home building …
Persistent link: https://www.econbiz.de/10013139741
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The Effect of Housing on Portfolio Choice
Chetty, Raj - 2015
Economic theory predicts that home ownership should have a negative effect on risk-taking in financial portfolios. However, empirical work has not found a strong relationship between housing and portfolios. We identify two reasons for the divergence between the theory and data. First, it is...
Persistent link: https://www.econbiz.de/10013038822
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Dynamics of Housing Debt in the Recent Boom and Great Recession
Adelino, Manuel - 2017
This paper documents a number of key facts about the evolution of mortgage debt, homeownership, debt burden and … over the boom period. While homeownership rates increased for the middle and upper income households, there was no increase … in homeownership for the lowest income groups. Finally, default rates post-crisis went up predominantly in areas with …
Persistent link: https://www.econbiz.de/10012954467
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Arbitrage in Housing Markets
Glaeser, Edward L. - 2015
Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different no arbitrage conditions, such as the prediction...
Persistent link: https://www.econbiz.de/10012750289
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Owner-Occupied Housing as a Hedge Against Rent Risk
Sinai, Todd M. - 2012
in house values. However, homeownership also provides a hedge against fluctuations in future rent payments. This paper … households so housing market risk actually increases homeownership rates and house prices. Further, the net effect of rent risk … on the demand for homeownership increases with a household's expected length of stay in its home, as the cumulative rent …
Persistent link: https://www.econbiz.de/10012755861
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Permanent Homelessness in America?
Freeman, Richard B.; Hall, Brian J. - 2021
This paper seeks to determine the approximate number of homeless persons in the U.S., the rate of change in the number, and whether or not the problem is likely to be permanent or transitory. It makes particular use of a new 1985 survey of over 503 homeless people in New York City. It finds: (1)...
Persistent link: https://www.econbiz.de/10013220957
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Race and Home Ownership from the Civil War to the Present
Collins, William J. - 2011
homeownership but the long-run growth in levels has been similar for both groups, and therefore the racial gap measured in …
Persistent link: https://www.econbiz.de/10013131674
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Does Home Owning Smooth the Variability of Future Housing Consumption?
Paciorek, Andrew - 2010
We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...
Persistent link: https://www.econbiz.de/10013135884
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Tiebout Sorting and Neighborhood Stratification
Bayer, Patrick J. - 2011
Tiebout's classic 1956 paper has strong implications regarding stratification across and within jurisdictions, predicting in the simplest instance a hierarchy of internally homogeneous communities ordered by income. Typically, urban areas are less than fully stratified, and the question arises...
Persistent link: https://www.econbiz.de/10013120986
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How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-Century Gi Bills
Fetter, Daniel - 2011
The largest 20th-century increase in U.S. home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War...
Persistent link: https://www.econbiz.de/10013123310