This paper investigates the differential impact of monetary policy on homeownership and housing returns among Black …-specific entries and exits of homeownership and housing returns for 140 metropolitan areas in the United States. Our findings reveal … significant heterogeneity: for minority households, one unit of monetary tightening leads to a 15% lower housing return and a 31 …

This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I … construct an overlapping generations general equilibrium model with recursive preferences and housing disaster shocks. The … likelihood and magnitude of housing disasters are inferred from historic housing market experiences in the OECD. The model shows …

Should monetary policy lean against housing market booms? We approach this question using a small-scale, regime …-switching New Keynesian model, where housing market crashes arrive with a logit probability that depends on the level of household …

Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this … paper, we develop a life-cycle model to examine the interaction between households' use of TDA and their housing decisions … earlier in their lives. On the other hand, housing-related policies, such as a minimum down payment requirement and mortgage …

household indebtedness and housing price fluctuations compared with a monetary policy rule augmented with house price inflation … houses and we introduce news shocks on housing demand. We estimate the model with Canadian data using Bayesian methods. We … find that the introduction of news shocks can generate a housing market boom-bust cycle, the bust following unrealized …

In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the … effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness …

the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …

adverse aggregate housing shock, these banks fail. When banks do not fully internalize the losses from such failure (due to … and individuals with large non-housing wealth suffer from the fragility of the banking system. On the other hand, some …