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Owner-Occupied Housing as a Hedge Against Rent Risk

Sinai, Todd - 2003

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 …

Persistent link: https://www.econbiz.de/10012469241

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

A New Spatial Hedonic Equilibrium in the Emerging Work-from-Home Economy?

Brueckner, Jan K.; Kahn, Matthew E.; Lindeman, Gary - National Bureau of Economic Research - 2021

This paper studies the impacts of work-from-home (WFH) in the housing market from both intercity and intracity perspectives. Our results confirm the theoretical prediction that WFH puts downward pressure on housing prices and rents in high-productivity counties, a result of workers starting to...

Persistent link: https://www.econbiz.de/10012496079

Estimating Racial Price Differentials in the Housing Market

Bayer, Patrick - 2012

and home ownership and the persistence of residential segregation …

Persistent link: https://www.econbiz.de/10012460590

Do Black Politicians Matter?

Logan, Trevon D. - 2018

This paper exploits the history of Reconstruction after the American Civil War to estimate the causal effect of politician race on public finance. I overcome the endogeneity between electoral preferences and black representation using the number of free blacks in the antebellum era (1860) as an...

Persistent link: https://www.econbiz.de/10012453523

Race and Home Ownership, 1900 to 1990

Collins, William J. - 1999

The historical evolution of racial differences in income in the 20th century United States has been examined intensively by economists, but the evolution of racial differences in wealth has been examined far less. This paper uses IPUMS data to study trends in racial differences in home ownership...

Persistent link: https://www.econbiz.de/10012471506

Liquidity Constraints and Housing Prices : Theory and Evidence from the VA Mortgage

Vigdor, Jacob L. - 2004

This paper employs a simple intertemporal model to show that presence of liquidity constraints can depress the price of a durable good below its net present rental value, regardless of the overall supply elasticity. The existence of price effects implies that the relaxation of liquidity...

Persistent link: https://www.econbiz.de/10012468080

Perception of House Price Risk and Homeownership

Adelino, Manuel - 2018

This paper analyzes the importance of household perceptions of house price risk in explaining homeownership choice … rent are strongly correlated with perceptions of house price risk. Households' exposure to housing risk due to financial … constraints, expected mobility or labor income risk affect the decision to buy versus rent but do not mitigate the impact of risk …

Persistent link: https://www.econbiz.de/10012480741

Rental Adjustment & Valuation of Real Estate in Overbuilt Markets : Fundamental vs. Reported Office Market Values in Sydney Australia

Hendershott, Patric H. - 1994

Real estate markets are periodically plagued by excess supply, rent concessions and few arms-length transactions …

Persistent link: https://www.econbiz.de/10012474144

The Remote Work Revolution : Impact on Real Estate Values and the Urban Environment

Nieuwerburgh, Stijn van - National Bureau of Economic Research - 2022

The covid-19 pandemic induced a major shift in the prevalence of remote and hybrid work arrangements. This article reviews the effects of this remote work revolution for residential and commercial real estate values and for the future of cities. It also discusses consequences for productivity,...

Persistent link: https://www.econbiz.de/10013462710