House price volatility; lender and borrower perception of price trends, loan and property features; and the borrower's put option are integrated in a model of residential mortgage default. These dimensions of the default problem have, to our knowledge, not previously been considered altogether...

House price volatility; lender and borrower perception of price trends, loan and property features; and the borrower's put option are integrated in a model of residential mortgage default. These dimensions of the default problem have, to our knowledge, not previously been considered altogether...

Turnover rates are important as determinants of the level of activity in housing related industries, in effecting housing market adjustments, and in revealing prices in illiquid, highly segmented, informationaly inefficient housing markets. This study examines the relative influence of structure...