The recent global economic and financial crises are alarming in both severity and length. We study the anatomy of the collapse by comparing the current precipitant (housing crisis) with the previous U.S. housing crisis of the early 1990s. Our analysis suggests that the greater severity of this...

The socioeconomic importance of housing and its medium- and long-term investment returns requires a significant effort to predict future dynamics to ensure that the different real estate market agents make the best decisions. Furthermore, the territory structure and the lack of information and...

This paper explores the role played by policy instruments in access to housing finance by low-income households. It also analyzes the impact of housing credit and subsidies on both the quality of life and the quality of dwelling of the beneficiaries. Using the Quality of Life Surveys conducted...

This article investigates the use of the configurational variable, which deals with the city form-space relations regarding transportation issues, to study spatial segregation and urban accessibility in four Brazilian cities (Belém, Manaus, Recife and São Paulo), with a focus in precarious...

China has experienced a rapid boom in real estate prices in the last few decades, leading to a substantial increase in living costs and heavy financial burdens on households. Using an instrumental variable approach, this paper exploits spatial and temporal variation in housing price appreciation...

The socioeconomic importance of housing and its medium- and long-term investment returns requires a significant effort to predict future dynamics to ensure that the different real estate market agents make the best decisions. Furthermore, the territory structure and the lack of information and...

This research analyzes the effects of recent housing price appreciation on aggregate welfare. It generalizes the results of Bajari et al (2005), who find that in a credit unconstrained economy with exogenous housing prices there is no effect of housing price appreciation on aggregate welfare....

This study examines cycles and common cycles in property and related sectors in the frequency domain. The findings indicate that property shares common cycles with a number of economic sectors and, in particular, with those sectors that are the user markets of property, and lags behind in...

Much of the literature on pricing commercial mortgages and commercial mortgage-backed securities has assumed homogeneity in prepayment penalty structure. This study provides evidence that such an assumption is inappropriate and examines the effect of penalty structures observed in actual...

This study finds evidence of a large premium in Youngtown Arizona house prices that persisted over time and could be attributed to the town's age-restricted status. Age restrictions may act as a signal that the community provides facilities and services that meet the needs of the senior...