Recently, homeownership rates of migrants in Germany increased by more than 10 percentage points. To shed light on this sharp increase, this paper investigates the change in homeownership rates of immigrant households in Germany between 1996 to 2005 and 2000 to 2012 respectively using a...

We study the impact of the 2015 mass arrival of refugees to Germany on residential housing rents. Using unique data on end of year county-level refugee populations and data on monthly offers of flats for rent from Germany’s leading online property broker Immobilienscout24, we find strong...

We combine the real estate model of Potepan (1996) with the spatial equilibrium approach of Roback (1982) to prove the interdependency of housing prices, rental prices, building land prices and income via one simultaneous equilibrium analysis. Using unique cross-sectional data on the majority of...

Dieser Thünen Report untersucht Wohnstandortentscheidungen als im Lebensverlauf regelmäßig stattfindende Abwägungs- und Aushandlungsprozesse von Haushalten in Bezug auf einen subjektiv angemessenen Wohnstandort. Neben Wohnmobilität (d. h. Gemeindegrenzen überschreitende Wanderungen oder...

Exploiting regional heterogeneity in population dynamics across more than 10,000 municipalities in Germany, we provide robust empirical evidence that population aging depresses real estate prices and rents. Using millions of individual real estate offers and detailed demographic data on the...

This paper describes the effects of the sectoral application of the systemic risk buffer (SyRB) within the German banking system. The analysis compares a general capital buffer (e.g. CCyB) to the sectoral SyRB (sSyRB) in the context of addressing the risks resulting from residential real estate...

Die aktuellen Finanzmarktturbulenzen wurden durch Entwicklungen im Immobiliensektor ausgelöst. Vor diesem Hintergrund analysiert dieser Beitrag den Zusammenhang zwischen den Immobilienpreisen und der Geldmengen- und Kreditvolumensentwicklung für den Zeitraum 1992 -2006 (westdeutsche...

In a world with complete markets and no transactions cost, the decision whether to rent or buy a home is separate from a household's professional income risk. If markets are incomplete and have frictions, however, profession- specific income risk, regional house price risk, and mobility needs...

The need to understand and leverage consumer-brand bonds has become critical in a marketplace characterized by increasing unpredictability, diminishing product differentiation, and heightened competitive pressure. This is especially true for fast moving consumer goods (FMCG) manufacturers and...

This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...