This paper studies how mortgage borrowers and house prices react to a tightening of mortgage limits following a policy change in Ireland in 2015. The policy introduced limits to the loan-to-income and loan-to-value ratios of new mortgages issued. In response to a tightening borrowing constraint,...

Do laws to protect borrowers curb foreclosures? This question is addressed by analysing the impact of foreclosure laws on default rates at state level in the US mortgage market. Using panel data techniques, we find a statistically significant effect of regulation on the different stages of the...

Borrowers in states with non-recourse mortgage law face limited liability on their mortgage loans. We show that non-recourse law causes larger swings in housing prices by encouraging speculative investments when housing markets are in a boom cycle. We find that mortgage lending pricing does not...

The Global Financial Crisis (GFC) disrupted the real estate (RE) debt market and triggered a retrenchment by traditional lenders such as commercial banks. Since then, this financing void has been filled by private fund vehicles – particularly within the core+ RE market – which has enabled...

Do laws to protect borrowers curb foreclosures? This question is addressed by analysing the impact of foreclosure laws on default rates at state level in the US mortgage market. Using panel data techniques, we find a statistically significant effect of regulation on the different stages of the...

This paper studies how mortgage borrowers and house prices react to a tightening of mortgage limits following a policy change in Ireland in 2015. The policy introduced limits to the loan-to-income and loan-to-value ratios of new mortgages issued. In response to a tightening borrowing constraint,...

Der Beitrag analysiert, inwieweit eine lockere Geldpolitik in gängigen theoretischen Modellen zur Bildung von Hauspreisblasen führen kann. Wird der Fundamentalwert von Häusern darüber erklärt, dass künftige Mieteinnahmen diskontiert werden, ergibt sich zwar ein inverser Zusammenhang von...

Der Beitrag geht in einem systematischen Fallstudienansatz der Frage nach, inwieweit Niedrigzinsen empirisch Hauspreisblasen verursachen. Dafür werden in einem ersten Schritt für 16 OECD-Länder mit verfügbaren Daten Hauspreisblasen im Zeitraum seit 1985 definiert und Phasen besonders...

In this paper we describe the Czech National Bank's approach to incorporating macroprudential considerations into monetary policy decision making: the use of a broader inflation measure that gives substantial weight to house prices and is considered along with headline CPI inflation. We argue...

Current account deficit has been a popular research topic among Turkish economists. The study investigates the relation between current account deficit of Turkey and house prices in the country. This paper uses the classical linear regression model and this is run for three times. The results of...