This paper investigates the effect of adding a distinct feature of the Danish mortgage market to the market in the United States. This feature, a buyback option, enables mortgagors to buy back their share of the mortgage-backed security at market price. Extending a standard referenced pricing...

This study investigates the effects of European monetary integration on the behavior of stock returns in European real estate companies from the perspective of a dollar-denominated investor. A range of statistical tests is applied to assess changes in segmentation, co-movement and causality. The...

There's something about quot;Affordabilityquot; that makes it very popular: Presidents past and present set goals around it. The popularity of this perennial policy goal is based on the feel-good idea that everyone would live in a home that they own if only they could afford it. Owning your own...

This paper aims to shed light onto the functionality of price regulation in the private rentalsector, critically evaluate various findings and impacts, both theoretical and empirical, provideexamples of past and recent regulations from all over the world, such as San Francisco,Massachusetts,...

Following concerns about undervaluation of minority-owned homes, we examine the incidence of racial appraisal bias using a nationwide sample of refinanced mortgages from 2000 to 2007. A unique feature of our data is that they allow us to observe the race of the both the homeowner and the...

This theoretical paper extends the useful work of Sevelka (2004) concerning the equivalence between discount rate and capitalization rate. The extension concerns two main points. First, it frames this relation within a clear theoretical framework, that starts from the net present value and goes...

This paper investigates the development of house prices in Copenhagen in the period 1994-2013, while paying special attention to the heterogeneous impact of the boom and bust periods along the dimensions of housing type (single vs multifamily housing), geography and quality. To allow for price...

The application of information technology to finance, or "fintech," is expected to revolutionize many aspects of borrowing and lending in the future, but technology has been reshaping consumer and mortgage lending for many years. During the 1990s, computerization allowed mortgage lenders to...

In the last five years, home rentals for tourists have generated significant media and social concern. Since the economic crisis of 2007-2008, online platforms have emerged that have boosted the collaborative economy and provided security and trust. There are two positions related to the impacts...

The Narodowy Bank Polski organized during November 14-15, 2013 an international workshop to discuss current issues in the field of real estate analysis from the central bank's point of view. The development of residential real estate prices as well as commercial real estate prices and real...