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The impact of borrowing constraints on homeownership has been well established in the literature. Wealth is most likely … to restrict homeownership followed by credit and income. Using recent movers from the 1979 National Longitudinal Survey … on the probability of homeownership during the housing market boom between 2003 and 2007. We show that whereas the pool …
Persistent link: https://www.econbiz.de/10010785378
at first-time homeownership using the French Housing Survey. We use a pseudo-panel approach that takes into account the … duration before -first-time homeownership, and take into account unobserved heterogeneity. Our results indicate that a spell in … public housing increases the hazard to homeownership, supporting the idea that, in France, the public housing policy provides …
Persistent link: https://www.econbiz.de/10010729308
In 2001, Mexico introduced a comprehensive federal housing policy package. The results have been quantitatively impressive; however, there are qualitative concerns. It is also uncertain whether current subsidy programs have negative financial implications for participating mortgage issuers, as...
Persistent link: https://www.econbiz.de/10009386051
In Guatemala there are substantial and growing imbalances in the housing market; at the same time, financial markets remain shallow and underdeveloped. The analytical framework applied in this paper starts by identifying the types of market failures responsible for the underdevelopment of the...
Persistent link: https://www.econbiz.de/10009386073
increased 1940 median home values and homeownership rates, but not new home building. …
Persistent link: https://www.econbiz.de/10008548780
Financially constrained borrowers have the incentive to influence the appraisal process in order to increase borrowing or reduce the interest rate. We document that the average valuation bias for residential refinance transactions is above 5%. The bias is larger for highly leveraged...
Persistent link: https://www.econbiz.de/10010703331
South Korea has a unique kind of rental contract, called chonsei. The tenant pays an upfront deposit, typically from 40% to 70% of the property value, to the landlord, and the landlord repays the deposit to the tenant upon contract termination. The tenant is not required to make any periodic...
Persistent link: https://www.econbiz.de/10011112234
Homeownership rates have increased significantly in many OECD countries over recent decades. Using micro … homeownership rates remains unexplained by shifts in household characteristics, leaving a potential role for public policy in … explaining developments in homeownership rates. Panel estimates suggest that the relaxation of down-payment constraints on …
Persistent link: https://www.econbiz.de/10008873251
The 1992 Federal Housing Enterprises Financial Safety and Soundness Act (GSE Act) mandated that a specified percentage of Fannie Mae and Freddie Mac purchases come from underserved populations. A number of prominent observers have pointed to the GSE Act as a root cause of the recent housing...
Persistent link: https://www.econbiz.de/10010785377