Using several different datasets obtained from the German Central Bank (Deutsche Bundesbank) and the German Federal Statistical Office, we provide empirical evidence that savings and loan contracts (SLCs) are a macrosocial phenomenon that smooths housing demand by setting countercyclical...

Households who wish to extract home equity through refinancing their mortgage face a hidden transaction cost. The real value of the fixed nominal mortgage payment declines over time with inflation. The change in the real value of the mortgage payments from taking on a new mortgage is positive...

This paper uses the newly constructed Luxembourg Wealth Study data to document cross-country variation in homeownership rates and the homeownership-income inequality among young households in Finland, Germany, Italy, the UK and the US, and relate it to cross-country differences in mortgage...

Is there a connection between the Federal subsidy for home ownership and urban sprawl? Should the Federal government encourage homeownership? Does the home mortgage interest deduction encourage homeownership for all Americans? Is the cost of the home mortgage interest deduction justified? This...

Using several different datasets obtained from the German Central Bank (Deutsche Bundesbank) and the German Federal Statistical Office, we provide empirical evidence that savings and loan contracts (SLCs) are a macrosocial phenomenon that smoothes housing demand by setting countercyclical...

Colombian house prices have increased significantly between 2005 and 2016. This paper estimates the extent of misalignments in house prices relative to fundamentals and evaluates the overall risk to the economy from the housing sector. The results suggest a moderate house price misalignment...

It has been over a decade since the peak of house prices in the US was attained, and while there has been a concerted regulatory response to the subsequent collapse, the two Government Sponsored Enterprises (GSEs) remain in conservatorship. While this action served to forestall a deeper crisis...

This paper examines the loan performance of Fannie Mae and Freddie Mac first-time homebuyer mortgages originated from 1996 to 2012. First-time homebuyer mortgages generally perform worse than repeat homebuyer mortgages. But first-time homebuyers are younger and have lower credit scores, home...

In 2014, the volume of housing mortgage lending (HML) in the Russian Federation continued to grow despite the development of crisis phenomena in the Russian economy. The volume of housing mortgage credits (HMC) allotted in 2014 (Rb 1.762 trillion) was 30.18% above the same index for 2013, while...

Thailand's housing loan market has been growing since 2006. At the same time, retail financial services have become more widely available.Thailand has also seen increasingly fierce competition among mortgage lenders. For example, in May 2010 the Government Housing Bank launched housing loans for...