We estimate the optimal tax on property flips by applying a sufficient statistics approach to a 2011 reform in Taiwan which levied a 10%-15% surcharge on investment properties sold within two years. Linking buyer-seller income tax returns to sales records, we find a 75% drop in one-year flips....

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...

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 multidimensional buyer and seller heterogeneity. I incorporate this framework in an incomplete markets macroeconomic model with...

This paper studies idiosyncratic price dispersion in the US housing market. We develop a new strategy to measure dispersion at the level of individual house sales. We show that idiosyncratic price dispersion is countercyclical and seasonal, and is associated with various measures of market...

How do changes in population structure such as population aging affect housing markets? This paper exploits historical demographic changes to identify the effect of urban demographic change on housing costs, building on half a millennium of data on house prices, rents, and demographics. We show...

In contrast to corporate and institutional investors, single owner-occupiers cannot adequately diversify housing investment risk. Consequently, homeownership should be relatively less likely in places with higher housing investment risk. Using the American Housing Survey, it is documented that...

This paper uses a natural experiment in Japan to provide evidence of the feedback loop between corporate borrowing and commercial real estate investment emphasized in macro-finance models with collateral constraints. Japan enacted a series of reforms in the early 1980s which relaxed national...

This work explores the impact of 'Studentification' of a neighborhood on the profitability of investment in the housing market. The study breaks down the impact of students on the housing market into two areas: apartments for sale and apartments for rent. The Israeli housing market provides the...

Die Bundesregierung möchte im Rahmen des Mietrechtsanpassungsgesetzes die Modernisierungsumlage von 11 Prozent auf 8 Prozent sowie auf maximal 3 Euro je Quadratmeter senken, um Mieter vor starken Mietpreissteigerungen zu schützen. Modernisierungen des Wohnungsbestands sind notwendig und...

Modernisierungen des Wohnungsbestands sind notwendig und wünschenswert, um u. a. die Klimaschutzziele zu erreichen und um den Komfort der Nutzer zu erhöhen. Bundesweit gesehen laufen die Investitionen in den Bestand dem Neubau hinterher, und gerade energetische Sanie-rungen erreichen noch...