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: oversupply of office in a hybrid-and-remote-work world, shortage of housing, and excessive greenhouse gas emissions. We propose a … housing. We highlight the role that the Inflation Reduction Act could play …
Persistent link: https://www.econbiz.de/10014337764
, including how housing prices should be measured. Previous researchers typically have used some combination of rental payments … and homeowner housing values, but housing values are forward-looking and may not reflect current user costs. This paper … examines differences in quality of life estimates for U.S. metropolitan areas using, alternatively, rents and housing values …
Persistent link: https://www.econbiz.de/10010287640
In case of a natural catastrophe there is an increased demand for skilled labor and materials which in turn leads to significant price increases that should be taken into account in the forecast of catastrophe losses. Such price effects are referred to as "Demand Surge" effects. The paper at...
Persistent link: https://www.econbiz.de/10009712472
Many industries are geographically concentrated. Many mechanisms that could account for such agglomeration have been proposed. We note that these theories make different predictions about which pairs of industries should be coagglomerated. We discuss the measurement of coagglomeration and use...
Persistent link: https://www.econbiz.de/10003461810
We use the price effects caused by the passage of rent control in St. Paul, Minnesota in 2021, to study the transfer of wealth across income groups. First, we find that rent control caused property values to fall by 6-7%, for an aggregate loss of $1.6 billion. A calibrated model of house prices...
Persistent link: https://www.econbiz.de/10013210111
and recovered only partially during the 2001-2005 housing boom. The 1980-2000 decline in young home ownership occurred as …
Persistent link: https://www.econbiz.de/10010292126
-generation model with housing. We find that the long-run importance of the introduction of new mortgage products for the aggregate …
Persistent link: https://www.econbiz.de/10010292289
that the volume of housing transactions increases when the payment profile is increasing and households have little housing … participation effects without increasing the volatility of the housing market. The model predicts that the expansion of mortgage …
Persistent link: https://www.econbiz.de/10010292368
We study early default, defined as serious delinquency or foreclosure in the first year, among nonprime mortgages from the 2001 to 2007 vintages. After documenting a dramatic rise in such defaults and discussing their correlates, we examine two primary explanations: changes in underwriting...
Persistent link: https://www.econbiz.de/10010283552
-sponsored enterprises. We construct a model with competitive housing and mortgage markets in which the government provides banks with … of this government subsidy of owner-occupied housing. Preliminary findings indicate that the subsidy leads to higher … equilibrium housing investment, higher mortgage default rates, and lower welfare. The welfare effects of this policy vary …
Persistent link: https://www.econbiz.de/10010397682