Although the United States has developed highly sophisticated markets for funding corporate investment projects, markets for financing home ownership are comparatively rudimentary. When a corporation wishes to fund a project, it can choose any mix of debt and equity financing. In contrast, to...

In the current structure of the U.S. residential mortgage market, a fall in property values may make it very difficult for homeowners to refinance their mortgages to take advantage of falling interest rates. In this paper, we explain the institutional background for this effect and quantify its...

In the current structure of the U.S. residential mortgage market, a decrease in property values may make it very difficult for homeowners to refinance their mortgages to take advantage of declining interest rates. In this paper, the authors show that this form of collateral constraint has...

In the current structure of the U.S. residential mortgage market, a decrease in property values may make it very difficult for homeowners to refinance their mortgages to take advantage of declining interest rates. In this paper, we show that this form of collateral constraint has greatly reduced...

The purpose of knowledge mobilisation (KM) can be defined as the creation and communication of evidence motivated by a desire to improve the design, delivery and consequent impact of public services. This definition also embraces the notion of the civic academy. In this article, we explore the...

The current recession has major implications for residential-led regeneration activity across the UK. Current funding models are breaking down and the goals of regeneration activity will, for some time, be much harder to achieve. The Government getting to grips with the big picture is a...

In this study, we examine the idea of localism in the context of housing policy and as mediated by the experience of devolution in England and Scotland. After considering arguments for adopting localism in principle, we examine the meaning and limitations of the concept when account is taken of...