regions more exposed to this channel, house prices increase more than rents, and sale listings decrease more than rental ones …

mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using … declines in the homeownership rates …

Ten years after the mortgage crisis, the U.S. housing market has rebounded significantly with house prices now near the … peak achieved during the boom. Homeownership rates, on the other hand, have continued to decline. We reconcile the two … homeownership rates between 2007 and 2014. We further demonstrate that institutional investors contributed to the improvement in the …

, since most housing is not simply financed out of current cash holdings but by mortgages, the institutions on mortgage … population) as well as in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the …