Empirical evidence indicates local jurisdictions are internally more heterogeneous than standard sorting models predict. We develop a dynamic multi-region model, with fluctuating regional house prices, where an owner-occupying household's location choice depends on its current wealth and its...

During the 1930s the British building industry and building society movement waged an aggressive campaign to sell the idea of home ownership to a new mass market. A number of sophisticated marketing strategies were employed to transform the popular image of a mortgage from 'a millstone round...

Recent empirical studies have indicated that owner-occupation is inferior to private rental housing in enhancing efficient spatial matching of labor and jobs. While existing literature is lacking in sufficient explanations for these results, this paper attempts to fill a part of this gap. We...

Empirical evidence indicates local jurisdictions are internally more heterogeneous than standard sorting models predict. We develop a dynamic multi-region model, with fluctuating regional house prices, where an owner-occupying household's location choice depends on its current wealth and its...

Empirical evidence suggests that local jurisdictions are internally more heterogeneous than standard sorting models predict. We develop a dynamic multi-region model, with fluctuating regional house prices, where an owner-occupying household’s location choice depends on its current wealth and...

Recent European data indicate that countries where a large proportion of the population lives in owner-occupied housing are experiencing higher unemployment rates than countries where the majority of people live in private rental housing, which might suggest that rental housing enhances labor...