We employ a novel spatial regression model to estimate effects of windstorm loss mitigation features on the value of coastal homes. Specifically, we consider joint effects of the Insurance Institute for Business and Home Safety's (IBHS) FORTIFIED HOME^TM . designation (henceforth Fortified) and...

Our study examines two aspects of life insurers' exposure to the troubled residential mortgage backed securities (RMBS) market. First, we develop and estimate a model that explains cross-sectional variation in RMBS exposure in terms of firm characteristics. We find that firms least likely to...

This paper contributes to the literature focusing on the impact of foreclosure status on single family house prices during a housing market collapse when foreclosures and distressed sales become the majority of recorded transactions. While it is generally possible to identify Real-estate owned...

Until the recent introduction of real estate futures on the Chicago Mercantile Exchange (CME), there have been few opportunities to manage house price risk. This paper examines whether house price risk can be effectively hedged in Las Vegas, one of the CME contract cities. The analysis considers...

This paper examines the impact of distressed sales on single family house prices during a housing market collapse. The innovation here is a methodology to create a proxy for distressed sales when such sales are not identified in the data but are commonplace in the market. We apply our...

Our study examines two aspects of life insurers’ exposure to the troubled residential mortgage backed securities (RMBS) market. First, we develop and estimate a model that explains cross-sectional variation in RMBS exposure in terms of firm characteristics. We find that firms least likely to...

Recent research shows the benefit of access to public open space differs by housing density, suggesting that public recreational open space can act as a substitute for private open space. We explore spatial externalities from different forms of open space across housing densities. We also test...

Early buyers of single-family residences in newly developed subdivisions assume a greater level of risk than later buyers in choosing to purchase a home in a new subdivision where the market has not been sufficiently established. This risk stems from such things as uncertainty regarding the...