This paper investigates the impact of a surging housing market on marital sorting. To cover the increasingly large down payments required in China today, both spouses' parents have to hand over their resources to support the couple in purchasing a new home. The incentive to extend credit to make...

The recent burst of the house price bubble in the United States and its spillover effects on real economies worldwide has rekindled the interest in the role of housing in the business cycle. In this paper, we investigate the relationships between housing cycles among the four major euro area...

Demand pressure, not supply inelasticity, explains coastal markets' high price volatility relative to other US markets in the housing cycle of 1998 through 2009. Relative to a comparison group of more elastically supplied markets facing similar historical demand pressure, coastal markets saw...

This paper was first delivered at a conference on Affordable Housing and Pubic Private Partnerships at the University of Colorado Law School. It addresses the creation of community institutions able to acquire and wield power in the affordable housing realm. While this ability has generally been...

Choosing between rented housing and homeownership, the so called housing tenure choice, is a key decision made by each household. Therefore housing economists often seek an answer to the question which factors have an impact on this decision. The paper investigates potential tenure choice...

This paper addresses one of the key issues – the foreseeability of the housing market downturn that began in September of 2007 and intensified in the fourth quarter of 2007 – that must be addressed in assessing the extensive securities class action litigation that has been filed against...

This paper quantitatively investigates the optimal capital income taxation in the general equilibrium overlapping generations model, which incorporates characteristics of housing and the U.S. preferential tax treatment for owner-occupied housing. Housing tax policy is found to have a substantial...

This paper analyses the behaviour of prices and supply on the German housing market taking into account the interaction between prices and quantities. A novel price index for residential property prices covering the whole country going back to 1993 is used in a macroeconomic model to estimate...

The technique of hydraulic fracturing or "fracking", has made it possible to produce vast new quantities of oil and natural gas. States like Colorado, Texas, and Oklahoma have seen a dramatic increase in the number of wells for both oil and natural gas. In this study, the main source of...

This paper studies the impact of a new class of investors on the dynamics of U.S. housing affordability after the Financial Crisis. Using a novel instrumental variable and processing 85 million housing transactions, we find that investors' purchases increase the price-to-income ratio, especially...