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In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing...
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Using individual-level data on homeowner debt and defaults from 1997 to 2008, we show that borrowing against the increase in home equity by existing homeowners is responsible for a significant fraction of both the sharp rise in U.S. household leverage from 2002 to 2006 and the increase in...
Persistent link: https://www.econbiz.de/10013151131
Using individual-level data on homeowner debt and defaults from 1997 to 2008, we show that borrowing against the increase in home equity by existing homeowners is responsible for a significant fraction of both the rise in U.S. household leverage from 2002 to 2006 and the increase in defaults...
Persistent link: https://www.econbiz.de/10013152833
Using individual-level data on homeowner debt and defaults from 1997 to 2008, we show that borrowing against the increase in home equity by existing homeowners is responsible for a significant fraction of both the sharp rise in U.S. household leverage from 2002 to 2006 and the increase in...
Persistent link: https://www.econbiz.de/10012463368
Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the … peak achieved during the boom. Homeownership rates, on the other hand, have continued to decline. We reconcile the two … homeownership rates between 2007 and 2014. We further demonstrate that institutional investors contributed to the improvement in the …
Persistent link: https://www.econbiz.de/10011971271
mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using … declines in the homeownership rates …
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