This paper investigates the differential impact of monetary policy on homeownership and housing returns among Black …, Hispanic and White households. Using data on 13 million repeat sales from 1993 to 2020, we construct and analyze race …-specific entries and exits of homeownership and housing returns for 140 metropolitan areas in the United States. Our findings reveal …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth …

enables the calculation of other popular indicators concerning households, such as housing equity and household total net …Housing is the greatest asset held by most households, and it is an important determinant of their financing and … consumption decisions. Despite the fact that measuring housing wealth is crucial for understanding households' economic behavior …