This paper studies the impact of foreign buyer taxes on house prices using recent law changes in Canada, Australia, and New Zealand. Counterfactual house prices are estimated for each treated location combining prediction techniques from machine learning with inference methods from the Synthetic...

In this paper we analyze the factors that affect the tenure choice of young adults, highlighting the impact of mortgage lender imposed borrowing constraints. The data set is a panel of youth age 20-33 for the years 1985-90. Our methods differ from most prior studies in many ways including...

This paper describes the real wealth accumulation of American youth and relates this behavior to variations in real constant-quality house prices in their localities of residence. We argue that increases in the real constant-quality house price have two offsetting effects on wealth. First, the...

In this study, we develop and test a methodology to assess the impact of affordable lending efforts on homeownership rates. More narrowly, we examine the impact of using flexible underwriting guidelines, primarily changes in the downpayment and housing burden requirements, on the affordability...

We test whether consolidation leads to increased profits through increased operating economies of scale. For a sample of apartment REITs, we find that economies of scale with respect to portfolio acquisitions existed in 1994 and 1995, however, this advantage has declined over time. While growth...

We find that the real estate market is vulnerable to sustained deviations from long-run equilibrium prices, in part due to the role played by the banking system. The impact of the banking system in magnifying the real estate cycle occurs because high real estate prices increase the economic...