uninsurable idiosyncratic risks, where the agents make entrepreneurial, housing and bankruptcy choices. In the model, house is …

Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … inference is confounded by house price levels, which are systematically correlated with housing risk in an intuitive way: in …

This paper develops a detailed partial equilibrium model of housing wealth's role over the life-cycle to explore (1 …) housing's dual role as a consumption and investment good; (2) the significance of the mortgage contract being in nominal and … not real terms; and (3) the tax benefits associated with owner-occupied housing. The stochastic dynamic programming …

after entering homeownership. The negative link can be rationalized by portfolio considerations: leveraged housing …

regulated housing markets. In more restrictive places an adverse effect exists. The MID is an ineffective policy to promote …

. We find that the MID only boosts homeownership attainment of higher income households in less tightly regulated housing …