policy implications is that the results could help define the maximum mortgage that may be granted to a given household and …

bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house …

bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house …

bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house …

investment risk. Consequently, homeownership should be relatively less likely in places with higher housing investment risk …

Households who wish to extract home equity through refinancing their mortgage face a hidden transaction cost. The real … value of the fixed nominal mortgage payment declines over time with inflation. The change in the real value of the mortgage … payments from taking on a new mortgage is positive and an increasing function of inflation; higher inflation thus discourages …

homeownership in Japan. We find that although both rural and urban households with higher incomes are more likely to transition to … homeownership, access in rural areas is more equally distributed over various income groups. Since most of the previous empirical …, whereas in rural areas homeownership is more equally distributed. Nonetheless, given the relatively low levels of household …

mortgage backed securities (MBS). The interest rate path-dependency is handled by an augmented state variable with discrete …