The dual motives of housing behavior, consumption and investment make the analysis of housing purchases quite difficult. As a matter of fact, while a larger literature, theoretical and empirical, deals with housing tenure choice by modeling housing consumption demand, few studies have tried to...

This paper studies household beliefs during the recent US housing boom. To characterize the heterogeneity in households' views about housing and the economy, we perform a cluster analysis on survey responses at different stages of the boom. The estimation always finds a small cluster of...

The tenure decision upon whether to buy or to rent accommodation has long-term consequences for households' financial wellbeing that influence macroeconomic development and stability when the cumulative effects of individual decisions are aggregated across populations. The author explains how...

This paper examines how family housing wealth affects homeownership transitions during divergent periods of credit access. I use matched parent-child data from the Panel Study of Income Dynamics, and exploit variation across local housing markets, as well as the recent housing cycle, to assess...

This paper analyses the behaviour of prices and supply on the German housing market taking into account the interaction between prices and quantities. A novel price index for residential property prices covering the whole country going back to 1993 is used in a macroeconomic model to estimate...

The rate of homeownership is close to the OECD average in Luxembourg. However, strong house price increases, mainly driven by population growth and limited housing supply, led to a deterioration in affordability of housing, in particular for the young and added to the wealth gap between...

Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan-to-value (LTV ) ratios at the city level are strongly negatively correlated with local house price volatility. However, causal inference is confounded by house price levels,...

Many cities around the world have introduced paid parking but implicitly subsidize parking for example by providing residential parking permits for street parking. We study the welfare effects of residential parking subsidies through changes in car ownership for Amsterdam. We employ a...

In this paper we disentangle the impact of household financial constraints on the mortgage rate from a number of dimensions of credit risk. The constraints employed in our analysis depend on the desired home value and not on the purchase price, as otherwise constraints would be specific to...

Home ownership is widely stimulated by policy yet its effects are poorly understood. Exploiting privatization decisions of municipally-owned apartment buildings, we obtain random variation in home ownership for otherwise similar buildings with similar tenants. Granular data on demographics,...