mortgage markets. It is found that transfers shorten the saving time by about two years and allow households to purchase …

wealth distribution, the age pro?les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time …-series, the model matches the procyclicality and volatility of housing investment, and the procyclicality of mortgage debt. We use … investment, the reduced procyclicality of mortgage debt, and a small fraction of the reduced volatility of GDP. Second, we use …

mortgage markets. It is found that transfers shorten the saving time by about two years and allow households to purchase …

wealth distribution, the age pro?les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time …-series, the model matches the procyclicality and volatility of housing investment, and the procyclicality of mortgage debt. We use … investment, the reduced procyclicality of mortgage debt, and a small fraction of the reduced volatility of GDP. Second, we use …

This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances … economic shocks and raise serious concerns about homeownership as a mechanism for reducing racial disparities in wealth. …

This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances … economic shocks and raise serious concerns about homeownership as a mechanism for reducing racial disparities in wealth. …

projected to go even higher. While most of the time a foreclosure is a suboptimal resolution of a distressed mortgage, a number … of features of the mortgage finance system often prevent loan modifications. This paper reviews the impediments to … successful mortgage restructuring and proposes a number of ways to improve the situation. The proposals build on the recognition …