Housing investment is one of the most cyclical components of GDP. Much of that cyclicality stems from the sector …. Although the housing sector is generally considered to be more interest-sensitive than the economy as a whole, the degree of … this sensitivity seems to vary between countries and through time. In this paper, we model the housing markets in Australia …

This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables … using a tractable, search-theoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model … constraints. During housing busts, longer selling times spill over into higher foreclosure risk, thereby magnifying the response …

This paper investigates the macroeconomic effects of search risk in the housing market. To do so, I introduce a … tractable directed search model of housing with mul- tidimensional buyer and seller heterogeneity. I incorporate this framework …. This mechanism establishes a novel link between housing and mortgage markets based on the illiquidity of housing. …

This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables … using a tractable, searchtheoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model … constraints. During housing busts, longer selling times spill over into higher foreclosure risk, thereby magnifying the response …

The article examines recent developments in international housing markets and makes an assessment of the current … housing demand and led to higher prices and investment. The strongest increases were recorded in the UK, Spain, Ireland and … France. Starting around the mid-2000s, housing markets increasingly displayed signs of overheating and the American subprime …

Systemic risk must include the housing market, though economists have not generally focused on it. We begin … construction of an agent-based model of the housing market with individual data from Washington, DC. Twenty years of success with … that the housing boom and bust of 1997-2007 was due in large part to changes in leverage rather than interest rates. …

In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative … weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental … housing, this variant of the imputation method may cause a bias in the German CPI. For assessing the appropriateness of the …

In this paper, we review the German practice of imputing the costs of owner-occupied housing by increasing the relative … weight of actual rents in the CPI. As the structure of owner-occupied housing differs substantially from that of rental … housing, this variant of the imputation method may cause a bias in the German CPI. For assessing the appropriateness of the …

-deviation contractionary monetary policy surprise lowers housing list prices by 0.2%- 0.3% within two weeks-a magnitude on par with the effect …