Tax benefits to owner-occupied housing provide incentives for housing consumption, offsetting weaker disincentives of … parameterized model, and determine the consequences of various tax reforms. Reductions in housing tax benefits generally reduce …. The most efficient policy would eliminate most tax benefits to housing and index taxes to local wage levels. …

We analyze the prices of owner-occupied housing in 97 metropolitan areas between 1980 and 2011. Our tests indicate that …

This paper describes six stylized patterns among housing markets in the United States that potential explanations of … the housing boom and bust should seek to explain. First, individual housing markets in the U.S. experienced considerable … housing markets. Fourth, the largest booms and busts, and their timing, seem to be clustered geographically. Fifth, the cross …

consistent with externalities that fall exponentially with distance. In particular, we estimate that housing externalities …

Recent sharp declines in owner-occupied housing prices naturally raise the question of whether something similar will … perform similarly. On the other hand, stronger limits to arbitrage in housing suggest wider swings in prices unrelated to … sectors. The simple correlation between appreciation rates on owner-occupied housing and commercial real estate is nearly 40 …

" cluster doubled towards the end of the boom. The second part of the paper provides a simple search model of the housing market …This paper studies household beliefs during the recent US housing boom. The first part presents evidence from the … Michigan Survey of Consumers. To characterize the heterogeneity in households' views about housing and the economy, we perform …

applications to the universe of housing transactions in the San Francisco Bay Area from 1994- 2004. The results provide the first …

-in, and property tax lock-in - on household mobility. We add the 2009 wave of the American Housing Survey (AHS) to our sample …