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An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002-06 U.S. house price boom. Contrary to this belief, we show that the house price and subprime booms occurred in different places. Counties with the largest home price appreciation...
Persistent link: https://www.econbiz.de/10011895606
borrowers and supply less credit to unproductive firms when collateral values rise. My results provide direct evidence that …
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a model of housing demand and supply to estimate households’ preferences for neighborhood zoning stringency and …. The reform would substantially increase the supply of small and cheap homes and benefit racial minorities, while minimally …
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future gains, undermines housing policies that aim to increase supply and reduce prices through rezoning. We shed light on … the problems with the static economic models of housing supply that inform these policies by looking at the degree to … function as inventories, and are hence minimised, we find that (1) over 200,000 housing lots, or 13 years of new supply, are …
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This paper employs panel data on 413 German counties and cities from 2004 to 2009 to investigate the supply of new … single-family housing in local housing markets. New local housing supply is measured by the annual number of construction … permits in relation to the existing single-family housing stock. This supply indicator is econometrically related to existing …
Persistent link: https://www.econbiz.de/10009530093