This article discusses the often overlooked ramifications of strategic mortgage default and the widespread implications it has on our sense of community, economic and financial stability, as well as mental and physical well-being. Too often studies examine only the one-off economic effects of...

This study identifies a severe gap between the financial backlash borrowers believe awaits them after strategic mortgage default and the reality that lenders rarely pursue deficiency judgments. This, coupled with the social norm finding that borrowers widely view strategic default as immoral,...

We test the disjunctive thesis as it relates to mortgage contracts and find that a liquidated damages clause shifts ones view of a mortgage from a promise to perform to either a promise to perform or pay compensatory damages. However, when a strategic mortgage default is responsible for the...

This study discusses the many factors and considerations that enter into the strategic mortgage default (SMD) decision-making process. While it is not possible to construct a single cumulative distribution function (CDF) associated with this decision, it is important for policymakers to better...

While true underlying home values are expected to be randomly distributed, actual residential listing prices tend to be highly clustered. Particularly, more than 75% of the homes in our sample are associated with a round or "just below" round asking price. This study provides a theoretical and...

While true underlying home values are expected to be randomly distributed, actual residential listing prices tend to be highly clustered. Particularly, more than 75% of the homes in our sample are associated with a round or "just below" round asking price. This study provides a theoretical and...

Inequity Aversion has long been applied in a game theoretic setting to explain that individuals are willing to sacrifice personal wealth in order to financially penalize players they perceive to be acting selfishly or unfairly. I apply inequity aversion to strategic mortgage default decisions...

Money illusion, the tendency to favor nominal values over more economically relevant real values, is argued to be the source of real estate bubbles causing unnecessary instability in the economy. We examine the existence of money illusion in a residential real estate setting as well as its...

This paper examines the contribution of endogenous health to the heterogeneity of regional housing markets and investigates the potential transmission mechanism of health effects among regions. Applying panel data on U.S. Metropolitan Statistical Areas (MSAs), we develop and calibrate a spatial...

This study introduces a new publicly traded real estate security known as an ETF REIT short share. In addition to examining the return, correlation, autocorrelation, partial-order autocorrelation, stationarity, and Granger Causality characteristics of this new investment vehicle, we demonstrate...