China has experienced a rapid boom in real estate prices in the last few decades, leading to a substantial increase in living costs and heavy financial burdens on households. Using an instrumental variable approach, this paper exploits spatial and temporal variation in housing price appreciation...

We study the genesis of the 2000s housing boom in Denmark, a country with a similar mortgage finance system to the U.S., but where subprime mortgages were absent, regulatory loan-to-value ratios were unchanged, and there was no reallocation of credit towards low income borrowers. Our results...

House prices have increased faster than average income in many countries over the last decade, raising concerns on the affordability of housing. We study the impact of transaction taxes on the real estate market and the effectiveness of tax subsidies to make housing more affordable. We show how...

Recurrent list-price reductions of a house may signal a movement towards fair pricing or underpricing, and the impatience of sellers to enter a sell transaction more quickly. Recurrent list-price reductions may also provide a market signal that the listings are problematic and thus harder to...

Housing markets display several correlations to multiple economic sectors of an economy. Their enormous impact on economies’ health, wealth, and stability is uncontroversial. Interestingly, the forms of financing residential property vary widely between the different countries in terms of...

In this paper we propose a SVAR identification strategy to disentangle two housing demand shocks and their ensuing effect on consumption. This builds on the literature studying the role of the collateral and housing wealth effects on household behaviour. A mix of zero and sign restrictions...

China has experienced a rapid boom in real estate prices in the last few decades, leading toa substantial increase in living costs and heavy financial burdens on households. Usingan instrumental variable approach, this paper exploits spatial and temporal variation inhousing price appreciation...

China has experienced a rapid boom in real estate prices in the last few decades, leading to a substantial increase in living costs and heavy financial burdens on households. Using an instrumental variable approach, this paper exploits spatial and temporal variation in housing price appreciation...

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...