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Demographics, house prices and mortgage design
Miles, David - Monetary Policy Committee (MPC), Bank of England - 2012
This paper develops a model of the housing market that takes account of population density to assess the impact of … population changes on the value and size of the housing stock. The model implies that if population density is on an upward … housing. This has implications for the optimal structure of housing finance. It amkes equity financing of home purchase more …
Persistent link: https://www.econbiz.de/10010878480
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Policies for Inclusive Urbanisation in China
Koen, Vincent; Herd, Richard; Wang, Xiao; Chalaux, Thomas - Economics Department, Organisation de Coopération et … - 2013
Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased...
Persistent link: https://www.econbiz.de/10011276950
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The housing wealth effect on consumption reconsidered
Lindner, Fabian - 2014
Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a wealth effect. In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing …
Persistent link: https://www.econbiz.de/10010335898
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The housing wealth effect on consumption reconsidered
Lindner, Fabian - Institut für Weltwirtschaft (IfW) - 2014
Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a wealth effect. In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing …
Persistent link: https://www.econbiz.de/10010956068
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The good, the bad, and the ordinary: Estimating agent value-added using real estate transactions
Cunningham, Christopher R.; Gerardi, Kristopher; Shen, Lily - 2022
Despite the prevalence and high cost of real estate agents, there is limited empirical evidence as to the nature or efficacy of their services. In this paper we estimate real estate agents' value-added when either selling or buying homes using data from three large multiple listing services...
Persistent link: https://www.econbiz.de/10014278405
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Deconstructing Canada's Housing Markets: Finance, Affordability and Urban Sprawl
Cheung, Calista - Economics Department, Organisation de Coopération et … - 2014
price correction in these segments spills over into other markets. The country benefits from a sound and effective housing … on loan losses would better align private and social interests. There may be a shortage of rental housing in several … and increase incentives for private-sector development of affordable housing. This Working Paper relates to the 2014 OECD …
Persistent link: https://www.econbiz.de/10011276860
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The good, the bad, and the ordinary : estimating agent value-added using real estate transactions
Cunningham, Christopher R.; Gerardi, Kristopher; Shen, Lily - 2022
Despite the prevalence and high cost of real estate agents, there is limited empirical evidence as to the nature or efficacy of their services. In this paper we estimate real estate agents' value-added when either selling or buying homes using data from three large multiple listing services...
Persistent link: https://www.econbiz.de/10013382195
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Measuring Housing Price Growth – Using Stratification to Improve Median-based Measures
Prasad, Nalini; Richards, Anthony - Reserve Bank of Australia - 2006
Developments in housing prices are of interest to households, policy-makers and those involved in the housing industry … macroeconomic impacts. However, the construction of measures of city-wide or nationwide average housing prices is not a … characteristics of the sample may change from period to period. As a result, widely used measures of growth in mean or median housing …
Persistent link: https://www.econbiz.de/10005426681
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Alas, my home is my castle: The excessive screening cost of buying a house
Arnold, Lutz G.; Babl, Andreas - 2013
This paper analyzes a model in which housing tenure choice serves as a means of screening households with different …
Persistent link: https://www.econbiz.de/10010294725
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A rental-equivalence index for owner-occupied housing in West Germany 1985 to 1998
Kurz, Claudia; Hoffmann, Johannes - 2004
In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative … weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental … housing, this variant of the imputation method may cause a bias in the German CPI. For assessing the appropriateness of the …
Persistent link: https://www.econbiz.de/10010295635