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Real Estate Bubbles and Urban Development

Glaeser, Edward L. - 2017

Why are real estate bubbles so common? Can these bubbles actually do some good? Real estate booms have regularly … estate and the errors of passive capital can generate real estate bubbles. The preference of banks for more fungible real … estate assets can also explain why real estate is so often the source of financial crises. In principle, real estate bubbles …

Persistent link: https://www.econbiz.de/10012966602

Access to Long-Term Care after a Wealth Shock : Evidence from the Housing Bubble and Burst

Costa-Font, Joan - 2017

Home equity is the primary self-funding mechanism for long term services and supports (LTSS). Using data from the relevant waves of the Health and Retirement Study (1996-2010), we exploit the exogenous variation in the form of wealth shocks resulting from the value of housing assets, to examine...

Persistent link: https://www.econbiz.de/10012948082

A Real Estate Boom with Chinese Characteristics

Glaeser, Edward L. - 2016

Chinese housing prices rose by over 10 percent per year in real terms between 2003 and 2014, and are now between two and ten times higher than the construction cost of apartments. At the same time, Chinese developers built 100 billion square feet of residential real estate. This boom has been...

Persistent link: https://www.econbiz.de/10012980181

Credit Supply and Housing Speculation

Mian, Atif - 2018

Speculation is a critical channel through which credit supply expansion affects the housing cycle. The surge in private label mortgage securitization in 2003 fueled a large expansion in mortgage credit supply by lenders financed with non-core deposits. Areas more exposed to these lenders...

Persistent link: https://www.econbiz.de/10012914707

Housing Bubbles

Glaeser, Edward L. - 2015

bubble. In this paper, we review the stylized facts of housing bubbles and discuss theories that can potentially explain … bubbles. Many non-rational explanations for real estate bubbles exist, but the most promising theories emphasize some form of …

Persistent link: https://www.econbiz.de/10013032705

Why Did so Many People Make so Many Ex Post Bad Decisions? the Causes of the Foreclosure Crisis

Foote, Christopher L. - 2012

acknowledge the limits of our understanding of asset price bubbles and design policies accordingly …

Persistent link: https://www.econbiz.de/10013106311

Lessons from the Great American Real Estate Boom and Bust of the 1920s

White, Eugene N. - 2010

Although long obscured by the Great Depression, the nationwide "bubble" that appeared in the early 1920s and burst in 1926 was similar in magnitude to the recent real estate boom and bust. Fundamentals, including a post-war construction catch-up, low interest rates and a "Greenspan put," helped...

Persistent link: https://www.econbiz.de/10013149972

The Market Crash and Mass Layoffs : How the Current Economic Crisis May Affect Retirement

Coile, Courtney - 2010

Recent dramatic declines in U.S. stock and housing markets have led to widespread speculation that shrinking retirement accounts and falling home equity will lead workers to delay retirement. Yet the weakness in the labor market and its impact on retirement is often overlooked. If older job...

Persistent link: https://www.econbiz.de/10013150735

Leveraged Bubbles

Jordà, Òscar - 2015

What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 … countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while … others blow over. We demonstrate that what makes some bubbles more dangerous than others is credit. When fueled by credit …

Persistent link: https://www.econbiz.de/10013017082

Loan Originations and Defaults in the Mortgage Crisis : Further Evidence

Adelino, Manuel - 2015

This paper addresses two critiques by Mian and Sufi (2015a, 2015b) that were released in response to the results documented in Adelino, Schoar and Severino (2015). We confirm that none of the results in our previous paper are affected by the issues put forward in these critiques; in particular...

Persistent link: https://www.econbiz.de/10013019520