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Eminent Domain Versus Government Purchase of Land Given Imperpect Information About Owners' Valuation

Shavell, Steven - 2007

's information about landowners' valuations is imperfect. Under this assumption, the policy of purchase possesses the market test …

Persistent link: https://www.econbiz.de/10012465083

Taxes and the User Cost of Capital for Owner-Occupied Housing

Hendershott, Patric H. - 1982

Owner-occupied housing is said to be favored in the tax code because mortgage interest and property taxes can be deducted in the computation of one's income tax base in spite of the fact that the returns from owner- occupied housing = not taxed. The special tax treatment reduces the user cost of...

Persistent link: https://www.econbiz.de/10012478178

Inflation, Income Taxes, and Owner-Occupied Housing

Poterba, James M. - 1980

outweigh the higher after-tax interest payments, so inflation reduces the effective cost of homeownership. This paper develops … real house prices. Over time, builders should respond to higher home prices and increase the amount of new construction …

Persistent link: https://www.econbiz.de/10012478582

Arbitrage in Housing Markets

Glaeser, Edward L. - 2007

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/10012464942

Moral Hazard in Home Equity Conversion

Shiller, Robert J. - 1998

Home equity conversion as presently constituted or proposed usually does not deal well with the potential problem of moral hazard. Once home-owners know that the risk of poor market performance of their homes is borne by investors, they have an incentive to neglect to take steps to maintain the...

Persistent link: https://www.econbiz.de/10012472256

Incentives and Social Capital : Are Homeowners Better Citizens?

DiPasquale, Denise - 1998

about their political leaders, joining non-professional organizations and even gardening. Homeownership may encourage these … investments because homeownership gives individuals an incentive to improve their community and because homeownership creates … conclusive, we find evidence that a large portion of the effect of homeownership on these investments may come from lower …

Persistent link: https://www.econbiz.de/10012472454

Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision

LaFayette, William C. - 1995

Earlier research has shown that lender income and wealth constraint ratios discourage homeownership. This empirical …, the measured impact on the homeownership rate of the constraints falls to only 4 percentage points. Further, FHA loans are … estimated to increase homeownership by only 0.1 to 0.2 percentage points …

Persistent link: https://www.econbiz.de/10012473815

Home Equity Insurance

Shiller, Robert J. - 1994

Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such policies is presented here, and conceptual issues are...

Persistent link: https://www.econbiz.de/10012474085

The Efficiency of the Market for Single-Family Homes

Case, Karl E. - 1988

Tests of weak-form efficiency of the market for single family homes are performed using data on repeat sales prices of 39,210 individual homes, each for two sales dates. Tests were done for Atlanta, Chicago, Dallas, and San Francisco/Oakland for 1970-86. While evidence for seasonality in real...

Persistent link: https://www.econbiz.de/10012476560

Testing for Information Asymmetries in Real Estate Markets

Kurlat, Pablo - 2014

home owners have superior information about important neighborhood characteristics, and exploit this information to time …

Persistent link: https://www.econbiz.de/10012458789

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