attention is paid to supply side restrictions and financial accelerator effects related to subprime lending. Considering 248 … Metropolitan Statistical Areas across the entire US, we estimate a simultaneous boom-bust system for housing prices and supply. The … model includes non-linear regional specific supply elasticities, determined by geographical and regulatory supply …

With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions …, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan … Statistical Areas, we estimate a simultaneous boom-bust system for house prices, housing supply and subprime lending. The model …

conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent … explicitly addressing reverse causality between rising foreclosures and falling house prices. Mortgage defaults were also a key … researchers to explore the central unsolved question in this area: why mortgage default is so rare, even for households with high …

An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002 … purchase mortgages to subprime borrowers. We also document that the expansion in speculative mortgage products and underwriting …

government backing of the mortgage market. Nonetheless, the dominance of the crown corporation CMHC in the mortgage insurance … market concentrates a significant amount of risk in public finances. Improving competitive conditions in the mortgage …

asymptotically normal. Applying my estimator to the subprime mortgage crisis, I quantify what caused the foreclosure rate to triple … standards, with a 10% decline in home prices increasing subprime mortgage default rates by 50% …

with the view that the house price boom was caused by an expansion in the supply of mortgage credit, primarily benefiting …The late 1990s through the mid-2000s was a period of historic growth in mortgage lending and house prices and there is … borrowers and neighborhoods which previously had the most limited access to mortgage credit. In particular, the evidence can be …