Households "sort" across neighborhoods according to their wealth and their preferences for public goods, social characteristics, and commuting opportunities. The aggregation of these individual choices in markets and in other institutions influences the supply of amenities and local public...

The author presents estimations of economic distortions in the Russian housing sector, which have become the result of the housing policy of the last 70 years. Such distortions are explained by the deficiency of investment required for supporting existing housing assets. The author suggests...

In reviewing the Challenger tragedy, Richard Feynman identified a flawed O-Ring as the proximate cause and NASA's flawed safety culture as a deeper cause. There has been no similar investigation of the mortgage mess, which has been baptized rather than understood. In part, this is due to...

Il nuovo istituto della perequazione "estesa" - cioè utilizzabile in qualunque luogo della città, qualechessia il luogo in cui ha trovato origine - presenta una intrinseca contraddizione: esso costituisce un passo in direzione della finanziarizzazione del settore immobiliare, e per questo...

We consider a novel set of data comprising every transaction in the Netherlands’ housing market between 1995 and 2011, and take a closer look at the idiosyncratic risk as it played out in those years. Shiller and Weiss (1999) proposed a home equity insurance policy that eliminates...

The Chinese government has been active in trying to cool the alleged bubbles in its housing markets, especially in urban areas. This paper argues that the high housing prices are partly caused by some real factors, including the policy of restricting land uses, in particular the maintenance of a...

The Canadian system of housing finance proved to be resilient and efficient during the global financial crisis and its aftermath. The system's effectiveness is the result of a rigorous prudential regulatory and supervisory regime coupled with targeted government guarantees of mortgage insurance...

With regard to home ownership and mortgage lending in Western Europe in general three models are referred to; the main criterion for classification of the types is who the home is owned by and how great a role mortgage lending plays. In Hungary the higher than 90 per cent rate of homes inhabited...

The 1992 Federal Housing Enterprises Financial Safety and Soundness Act (GSE Act) mandated that a specified percentage of Fannie Mae and Freddie Mac purchases come from underserved populations. A number of prominent observers have pointed to the GSE Act as a root cause of the recent housing...