Chetty and Szeidl (2012) propose to estimate the effect of housing on portfolio choice by distinguishing between the …

A reduction in inflation can fuel run-ups in housing prices if people suffer from money illusion. For example …

social security upon the demand for housing and the level of owner occupation is substantial. The overall structure of … generosity of state run, pay-as-you-go pensions. The interaction between social security reform and housing market conditions is … significant and suggests that any changes in pension rules will have substantial knock on effects on the housing market. …

The housing crisis threatens to destroy hundreds of billions of dollars of value by causing homeowners with negative …

heterogeneous, infinitely lived households and competitive housing and mortgage markets. Households have the option to default on … equilibrium mortgage origination and increases aggregate welfare, but has little effect on foreclosure rates and housing …

, housing, credit frictions and a Taylor rule. Highly leveraged borrowing through nominal debt backed by real estate collateral …

by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the …

much housing to own, and city residents vote on the number of new building permits every period. Under-supply of housing … persists in equilibrium under conditions we characterize. City residents invest in housing because they expect their investment … local housing. This vicious cycle between ownership and urban growth generates a tension between the common housing policy …