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Mortgage borrowing limits and house prices : evidence from a policy change in Ireland
Higgins, Brian E. - 2024
change in Ireland in 2015. The policy introduced limits to the loan-to-income and loan-to-value ratios of new mortgages …
Persistent link: https://www.econbiz.de/10014490418
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17 years after the start of the global financial crisis (GFC), where are we now with credit and house prices in the Irish residential market?
Egan, Paul; McQuinn, Kieran; O'Toole, Conor - 2024
, as evidenced by the adoption of the Central Bank of Ireland of macroprudential rules in early 2016. Now 17 years after …The credit bubble experienced by the Irish residential and financial sector immediately prior to the global financial … with the increase in housing demand came a significant degree of credit market liberalisation which resulted in a …
Persistent link: https://www.econbiz.de/10014563940
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Systemic risk and the refinancing ratchet effect
Khandani, Amir E.; Lo, Andrew W.; Merton, Robert C. - 2009 - This draft: September 13, 2009
The confluence of three trends in the U.S. residential housing market - rising home prices, declining interest rates, and near-frictionless refinancing opportunities - led to vastly increased systemic risk in the financial system. Individually, each of these trends is benign, but when they occur...
Persistent link: https://www.econbiz.de/10003889053
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Institutional investors and the U.S. housing recovery
Lambie-Hanson, Lauren; Li, Wenli; Slonkosky, Michael - 2019
We study the house price recovery in the U.S. single-family residential housing market since the outbreak of the mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using comprehensive property-level transaction data, we show...
Persistent link: https://www.econbiz.de/10012197788
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The good, the bad, and the ordinary : estimating agent value-added using real estate transactions
Cunningham, Christopher R.; Gerardi, Kristopher; Shen, Lily - 2022
Despite the prevalence and high cost of real estate agents, there is limited empirical evidence as to the nature or efficacy of their services. In this paper we estimate real estate agents' value-added when either selling or buying homes using data from three large multiple listing services...
Persistent link: https://www.econbiz.de/10013382195
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The Effectiveness of the ECB's Asset Purchase Programs of 2009 to 2012
Tavlas, G. S.; Gibson, Heather D.; Hall, Stephen G. - 2022
, Ireland, Italy, Portugal, and Spain. Our data are monthly and cover the period from 2004M01 through 2014M07. In contrast to …
Persistent link: https://www.econbiz.de/10013492698
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Examining the response of house prices to supply using a Markov regime switching approach : the case of the Irish housing market
Egan, Paul; McQuinn, Kieran - 2022
Understanding the impact of housing supply on housing price inflation is a particularly important issue from a policy-maker's perspective. Notwithstanding the impact of the great financial crisis (GFC) in 2007/08, the past 25 years has seen a significant increase in housing prices across a...
Persistent link: https://www.econbiz.de/10013362190
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Mortgage-default research and the recent foreclosure crisis
Foote, Christopher L.; Willen, Paul - 2017 - This version: October 2017
This paper reviews recent research on mortgage default, focusing on the relationship of this research to the recent foreclosure crisis. Research on defaults was advanced both theoretically and empirically by the time the crisis began, but economists have moved the frontier further by improving...
Persistent link: https://www.econbiz.de/10011764548
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House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
Mian, Atif R. - 2010
increase in home equity. Home equity-based borrowing is stronger for younger households, households with low credit scores, and … households with high initial credit card utilization rates. Money extracted from increased home equity is not used to purchase … new real estate or pay down high credit card balances, which suggests that borrowed funds may be used for real outlays …
Persistent link: https://www.econbiz.de/10013152833
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Taming the Housing Crisis : An LTV Macroprudential Policy
Forster, Robert - 2020
such a macroprudential policy measure. A welfare comparison indicatesthat the maximum loan-to-value policy is preferable …
Persistent link: https://www.econbiz.de/10012826836