This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables … using a tractable, searchtheoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model … constraints. During housing busts, longer selling times spill over into higher foreclosure risk, thereby magnifying the response …

We review the existing literature on the causes of vacancies in the housing market. First, we present a detailed … vacancies in the housing market in the context of prospect theory which could be extended by future research. Second, we … specific type of vacancy into account is highly relevant for housing policy decisions. …

In this paper, I explore and explain how buy-to-let investors affect housing price dynamics. The impact of buy …-to-let investors on the housing market is much discussed by policy makers, but previously not considered in the literature. I develop a … structural search model that allows housing owners to buy second houses to let out, and let rents be determined endogenously. To …

Housing markets of large cities around the world, particularly in so-called developing and emerging countries, are … housing. On the other hand, international real estate investment, particularly in the upper market segment, is strong. The … resulting mismatch of housing demand and supply increases segregation, marginalises the vulnerable and leads to massive urban …

We study sources and consequences of fluctuations in the housing market. The upward trend in real housing prices of the … last 40 years can be explained by slow technological progress in the housing sector. Over the business cycle, housing … demand and housing technology shocks explain one-quarter each of the volatility of housing investment and housing prices …

This chapter surveys the literature on the microstructure of housing markets. It considers one-sided search, random … bargaining taking various forms, including two-party negotiations of different types and multiparty housing auctions. The chapter … important issues both because of the inherent importance of housing and brokerage and because of the importance of housing to …

This paper investigates the US housing market from just before the Great Recession onward (2006-19) and assesses the … from the housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can …, indicating the importance of stock-flow matching for understanding housing market dynamics. …

This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the … housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can not only … the importance of stock-flow matching for understanding housing market dynamics. …

identify behavioural and Minskyan theories of housing cycles as suitable frameworks to theorise the impact of housing on growth …. However, this literature does not provide an analysis of cross-country differences in housing cycles. Third, drawing on the … CPE literature on housing systems, we argue that institutions such as homeownership rates and mortgage-credit encouraging …