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almost half of purchase mortgage originations were associated with investors. In part by apparently misreporting their …
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Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these … lenders' exposure to high-growth markets is associated with more risk, more efficiency, and more return on mortgage portfolios …
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This chapter surveys the literature on housing in macroeconomics. We first collect facts on house prices and quantities in both the time series and the cross section of households and housing markets. We then present a theoretical model of frictional housing markets with heterogeneous agents...
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