The clich¨¦ ¡°once a homeowner, always a homeowner¡± is not true. We study the causes of terminations of spells of first-time homeownership.Using a national panel data set, we find that the likelihood of a household terminating a spell of homeownership is predictable at the time of...

The rate of transition of young adults from living with parents or renting to homeownership affects the national homeownership rate. There are substantial racial and ethnic differences in the length of time that it takes for this transition to occur, contributing to the well-known racial gaps in...

This paper investigates the relationship between the list and sale price of residential properties over the housing cycle. In down or normal markets the list price generally exceeds the sales price; however, when the housing market is strong, homes sell for more than their list price. This...

Housing subsidies are often justified by claims that high quality housing improves households’ economic and social outcomes. The goal of our research is to undertake a comprehensive empirical study of the causal impact of housing characteristics on the cognitive, behavioral, and health...

The primary question addressed in this paper is how media coverage of the U.S. housing market relates to changes in the housing market. Specifically, does the news about the residential real estate market lag changes in observed changes in the market (representing the case where the media simply...

Evidence about the relationship of local unemployment rates and individuals' reservation wages and duration of search for a job if unemployed is sparse and mixed. This study uses US data from the Panel Study of Income Dynamics (PSID) to test whether relatively high local unemployment rates...

While homeownership rates currently stand at historically high levels for all segments of the U.S. population, large gaps are present comparing various groups of the population. As of the third quarter of 2006, the non-Hispanic white homeownership rate was 76 percent while black and Hispanic...

Purpose This paper links the literatures on the life-cycle hypothesis, homeownership, home equity and pensions. Empirically, the focus is on the EU and USA. The paper aims to explore the extent that seniors extract their home equity and discuss the financial instruments available for equity...