Hanson, Andrew; Schnier, Kurt; Turnbull, Geoffrey K. - In: Regional Science and Urban Economics 42 (2012) 1-2, pp. 63-77
A deeper understanding of the credit-sorting process is essential when considering the extent to which home foreclosures are driven by price contagion or an underlying spatial pattern of mortgage quality. Adapting household location theory, we find that credit constrained households follow...