Jiang, Erica Xuewei; Zhang, Anthony Lee - 2022
higher default risk, consistent with the collateral channel. We quantify the effect on homeownership gap using a lifecycle … are as collateral for mortgages. Older and less standardized houses tend to have higher price dispersion, and their … rejected, have lower loan-to-price ratios, and higher risk-adjusted cost menu. This effect is stronger for home buyers with …