This study considers an under-explored channel through which credit-constrained house- holds may smooth consumption – buying ahead. We employ a differences-in-differences-in- differences strategy and exploit variation from state tax laws introduced in different states in different years. Using...

As the mortgage foreclosure crisis accelerated in the U.S. in the late 2000s, state-level policymakers implemented measures designed to protect consumers and stem the tide of foreclosures. One form of policy was simply to require lenders to report on foreclosure prevention activities. Such...