asymptotically normal. Applying my estimator to the subprime mortgage crisis, I quantify what caused the foreclosure rate to triple … standards, with a 10% decline in home prices increasing subprime mortgage default rates by 50% …

(not overvalued), by about 30% in 2019q4. Due to rising mortgage rates, they are less undervalued in 2023q2, but still …The PTI ratio disregards mortgage rates and other housing costs and lacks scientific support. According to a large …

Using proprietary loan-level data, we examine the ability of the government to impact mortgage refinancing activity and … mortgage market …

within the same housing developments. By using these indices and detailed information on mortgage borrowers across these … household income, except in a few first-tier cities. While bottom-income mortgage borrowers endured severe financial burdens by … mortgage loans were protected by down payments commonly in excess of 35 percent. As such, the housing market is unlikely to …

excess longer-term volatility relative to fundamentals. Valuing a house involves forecasting the current and future demand to …

(iii) generate externalities that induce significant welfare loss and excess price volatility …

In this paper we examine the relationship between homeowners' bankruptcy decisions and their mortgage default decisions …

during the crisis. Representatives from districts experiencing an increase in mortgage default rates are significantly more … likely to vote in favor of the AHRFPA. They are precise in responding only to mortgage related constituent defaults, and are …

-primary houses fueled the entire mortgage boom during 2014Q4-2016Q3. The mortgage expansion disproportionately increased the share of … mortgage markets. Our cross-city evidence provides empirical support for this channel …