inflation. Given the disinflation of the 1980s, this explanation also seems consistent with the reversals in ownership and real … prices. Recent work challenges the standard view. Inflation is said to disfavor home ownership, and real house prices are …

increased 1940 median home values and homeownership rates, but not new home building …

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 …

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 …

corporate capital may have a common explanation, the inter- action of inflation and a nonindexed tax system. The acceleration of … inflation has sharply increased the effective rate of taxation of corporate capital income, while reducing the effective … describes in more detail the nonneutralities caused by inflation. A simple model showing how inflation and taxation interact to …

outweigh the higher after-tax interest payments, so inflation reduces the effective cost of homeownership. This paper develops … provisions. Inflation's importance in determining the implicit subsidy to owner-occupied housing has received less attention … also receive essentially untaxed capital gains on their homes during periods of high inflation. The after-tax capital gains …