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The role of lenders in the home price boom

Rosen, Richard J. - 2008

This paper examines the relationship between real estate prices during the home price boom from the late 1990s into 2005 and competition among mortgage lenders. The mortgage lending business, especially with the rise of the originate-to-distribute model, had competitors with very different...

Persistent link: https://www.econbiz.de/10010292183

The regional pattern of the US house price bubble: An application of SPC to city level data

Freese, Julia - 2013

The recent U.S. house price bubble and the subsequent deep financial crisis have renewed the interest in reliable identification methods for asset price bubbles. While there is a growing number of studies focussing on the detection of U.S. regional bubbles, estimations of the likely starting...

Persistent link: https://www.econbiz.de/10010292643

Eyes wide shut? The US house market bubble through the lense of statistical process control

Berlemann, Michael; Freese, Julia; Knoth, Sven - 2012

While most economists agree that the recent worldwide financial crises evolved as a consequence of the US house price bubble, the related literature yet failed to deliver a consensus on the question when exactly the bubble started developing. The estimates in the literature range in between 1997...

Persistent link: https://www.econbiz.de/10010292653

Real estate markets and bank distress

Koetter, Michael; Poghosyan, Tigran - 2008

We investigate the relationship between real estate markets and bank distress among German universal and specialized mortgage banks between 1995 and 2004. Higher house prices increase the value of collateral, which reduces the probability of bank distress (PDs). But higher prices at given rents...

Persistent link: https://www.econbiz.de/10010298763

Optimal life cycle portfolio choice with housing market cycles

Marekwica, Marcel; Stamos, Michael Z. - 2010

homeownership rates, leverage, stock investments and consumption and can explain empirically observed household behavior during …

Persistent link: https://www.econbiz.de/10010303712

Monetary policy and real estate prices: A disaggregated analysis for Switzerland

Berlemann, Michael; Freese, Julia - 2010

Most empirical studies found that monetary policy has a significant effect on house prices while stock markets remain unaffected by interest rate shocks. In this paper we conduct a more detailed analysis by studying various sub-segments of the real estate market. Em-ploying a new dataset for...

Persistent link: https://www.econbiz.de/10010305535

Climate Change and Long-Run Discount Rates: Evidence from Real Estate

Giglio, Stefano; Maggiori, Matteo; Ströbel, Johannes; … - 2015

investment’s uncertain future benefits. The appropriate discount rate is a function of the horizon over which these benefits … risky asset class, real estate, up to the very long horizons relevant for investments in climate change abatement. We show … that are observed for traded assets to investments in climate change abatement is misleading. We also show that the …

Persistent link: https://www.econbiz.de/10011388274

Spatial Competition and Transport Infrastructure: The Case of Moscow Office Rental Market

Mikhailova, Tatiana - 2015

This paper studies the geography of competition on Moscow commercial real estate market. We estimate the elasticity of office rental price to the prices of competing objects as a function of the geographical distance. We found that office real estate market in Moscow, although saturated, is...

Persistent link: https://www.econbiz.de/10011400572

Is a lack of a credible commitment a credible explanation for war?

Wittman, Donald - 2007

This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...

Persistent link: https://www.econbiz.de/10010322731

Spatial Heterogeneity in Hedonic House Price Models: The Case of Austria

Helbich, Marco; Brunauer, Wolfgang; Vaz, Eric; Nijkamp, … - 2013

Modeling spatial heterogeneity (SH) is a controversial subject in real estate economics. Single-family-home prices in Austria are explored to investigate the capability of global and locally weighted hedonic models. Even if regional indicators are not fully capable to model SH and technical...

Persistent link: https://www.econbiz.de/10010326150

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