Showing 1 - 10 of 429
This paper studies temporary policy incentives designed to address capital overhang by inducing asset demand from buyers in the private market. Using variation across local geographies in ex ante program exposure and a difference-in-differences design, we find that the First-Time Homebuyer...
Persistent link: https://www.econbiz.de/10012977641
This paper measures the housing market impact of state-level anti-discrimination laws in the 1960s using household …-level and census-tract data. State-level fair-housing' laws attempted to bar discrimination on the basis of race, religion, and … national origin in the sale, rental, and financing of housing, and they were the direct antecedents of the federal Fair Housing …
Persistent link: https://www.econbiz.de/10013215687
foreign demand affects U.S. housing markets, and uses this demand shock to estimate local price elasticities of supply. Other … countries introduced foreign-buyer taxes meant to deter Chinese housing investment beginning in 2011. We first show house prices … reversing with the onset of the U.S.–China trade war. Second, we use international tax policy changes as a U.S. housing demand …
Persistent link: https://www.econbiz.de/10013292691
The key stylized facts of the housing market are positive serial correlation of price changes at one year frequencies … levels within markets. We calibrate a dynamic model of housing in the spatial equilibrium tradition of Rosen and Roback to … correlation in annual house price changes and the high volatility of prices in coastal markets are the two biggest housing market …
Persistent link: https://www.econbiz.de/10013311898
In the recent financial crisis, macroeconomic stimuli produced mixed results across developed economies. In contrast, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first quarter of 2010. Amidst this phenomenal response, land...
Persistent link: https://www.econbiz.de/10013128599
Housing market transactions are a matter of public record and thus provide a rare opportunity to analyze the behavior …, performance, and strategies of individual investors. Using data for all housing transactions in the Los Angeles area from 1988 … investors increased sharply in the recent housing boom. These investors earned little more than the market rate of appreciation …
Persistent link: https://www.econbiz.de/10013130258
High and rising prices in Chinese housing markets have attracted global attention, as well as the interest of the … Chinese government and its regulators. Housing markets look very risky based on the stylized facts we document. Price …
Persistent link: https://www.econbiz.de/10013141003
This paper uses unique panel data covering over two million repeat-sales housing transactions from four metropolitan … areas to test for the presence of racial price differentials in the housing market. Drawing on the strengths of these data …
Persistent link: https://www.econbiz.de/10013106667
. However, empirical work has not found a strong relationship between housing and portfolios. We identify two reasons for the … mortgages by using differences across housing markets in average house prices and housing supply elasticities as instruments … household were to spend 10% less on its house, holding fixed wealth. We conclude that housing has substantial impacts on …
Persistent link: https://www.econbiz.de/10013038822
sectors. This paper is about economic behaviors that anticipate technical progress, and how they may describe the housing … price and construction boom of 2000-2006 and the bust thereafter. Specifically, I note that only a minority of housing … mortgage and real estate industries have the potential to both move housing prices and non-residential consumption in the same …
Persistent link: https://www.econbiz.de/10013038851