The correlation between stock and housing prices, which is critical for household asset allocations, varies widely by metropolitan area and country. A general equilibrium model demonstrates that an aggregate positive technology shock increases stock prices and housing demand but can decrease...

This paper employs an extensive household survey data set covering a wide range of transition countries to empirically characterize the housing choices of households. The paper provides a descriptive overview of the types of dwellings, housing tenure, mode of acquisition, and mortgage prevalence...

French Abstract: Le prix des logements peut diminuer du fait de la proximité d'installations industrielles. Cet effet dépend de la perception du risque par les riverains et est donc potentiellement modifié par des événements changeant la perception du risque, tels que les plans de...

Supersedes Working Paper 09-7. We estimate a structural model of optimal life-cycle housing and nonhousing consumption in the presence of labor income and house price uncertainties. The model postulates constant elasticity of substitution between housing service and nonhousing consumption and...

This chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership, the nature of the housing stock, and the organization of residential activity. We start by providing some background on the design features of mortgage contracts that...

We study 2001-2004 and 2004-2007 rent growth of 18,000 rental units, ending our study prior to the Great Recession. Which variables correlate with rent growth: Location? Age? Rent level? Occupancy duration? Structure type? The answers deepen understanding of the rental market, help statistical...

In January–April 2015, entities of all the patterns of ownership built 295,100 apartments with the total floorspace of 23.4m sq. meters which is equal to 128.4% as compared to the respective period of 2014. In Q1 2015, the average actual cost of building of a sq. meter of housing rose by 1.25%...

We use hedonic analysis of home sales data from the Twin Cities Metropolitan Area to estimate the effects of access of different types of trails on home value. Our model includes proximity to three distinct types bicycle facilities, controlling for local fixed effects and open space...

The most frequent mortgage loans in the US behave according to nominal interest rates with level loan payments (NRMs), like Fixed Rate Mortgages (FRMs) or Adjustable Rate Mortgages (ARMs). We use a model to show that the tilt effect, an increase of real payments in the early years of the...

This paper examines the effect of homeownership on mobility and labor income and provides new evidence that owning a home makes workers less likely to move in response to labor market shocks. To identify this effect, I develop and estimate a structural dynamic model of housing choices, migration...