job search with liquid wealth accumulation and consumption of housing that can be rented, bought on credit, or sold. In … using NLSY data from 1978 until 2005. We find that more relaxed housing lending conditions, particularly lower downpayment …

job search with liquid wealth accumulation and consumption of housing, that can be rented, bought on credit, or sold. In … using NLSY data from 1978 until 2005. We fi?nd that more relaxed housing lending conditions, particularly lower downpayment …

involves several important issues, most important being how housing prices should be measured. Previous researchers typically … have used some combination of rental payments and homeowner housing values. This paper examines differences in quality of … life estimates for U.S. metropolitan areas using, alternatively, rents and housing values. We find that the two measures of …

indicate that households allocate most of their wealth to housing. Our results suggest that actual allocations are suboptimal … and that significant gains can be obtained with a higher degree of diversification. In particular, we find that housing … plays a positive role in efficient portfolio allocation when the housing to net wealth ratio is less than 1.5, but when the …

We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the … wealth distribution, the age pro?les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time …-series, the model matches the procyclicality and volatility of housing investment, and the procyclicality of mortgage debt. We use …