Rady, Sven; Ortalo-Magné, François - 2002 - First draft: April 2002, This version: November 2002
joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …
