The dramatic rise in the U.S. homeownership rate from 64% in 1996 to almost 70% in 2005 has prompted increased attention to the relation between homeownership and demographic characteristics of households. The recent rise and sharp decline of subprime lending will likely spur further interest in...

Recent papers have questioned the ability of the monocentric urban model to account for urban development patterns. Most damaging are estimates of wasteful commuting that indicate actual commuting may be eight times as large as efficient commuting predicted by the strong form of the monocentric...

The indirect test implemented in this paper is based on the economics of discrimination which hypothesizes that differential treatment of borrowers, on the basis of age, race, sex, or property location, at any stage of the mortgage transaction, including prescreening, results in segregation of...

Rapid economic growth along shorelines places property in harm's way because of exposure to storms, and has sparked debate about the government's role in attenuating the associated risks faced by beachfront property owners. This paper analyzes the effects of government shore protection...