Amior, Michael; Halket, Jonathan - In: Quantitative economics : QE ; journal of the … 5 (2014) 3, pp. 631-674
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,...