In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit … expansion increases housing prices not only in neighborhoods where the expansion occurred, but also in those with access to pre …-existing segments of the network. We show how these network housing price effects depend on household commuting patterns, and discuss …

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 …

general equilibrium housing model and find that these three factors together account for over half of the increase in house … due to higher demand for mortgage loans. This increases households' savings in financial assets and leaves their housing … their wealth from financial assets to housing assets, which dramatically drives up house prices. …

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 …

Existing home sales' share of Canada's economic pie has been rising in recent years, and variation around this trend … - namely, full-time employment, housing affordability and migration flows - to help look through the volatility. The results …

possibly wealth effects. The presence of similar channels in Canada would have important implications for monetary policy … 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 …