Nearly one in every two adults aged 18–29 currently lives with their parents, compared to slightly more than one in four in 1960. The literature focuses on changing labor market conditions and marriage-childbearing delays to account for this shift. Using a Blinder-Oaxaca procedure, we identify...

Assessing the amenity value of green space is important to urban revitalization. This paper examines the impact of vacant lots greened by the Pennsylvania Horticultural Society in Philadelphia for the period of 2007-2017 on housing prices. The paper uses a quasi-experimental design to estimate...

We estimate the effect of city land use regulation on housing prices in the presence of regulatory spillover. The total effect of regulation is decomposed into a direct effect in which regulation lowers housing productivity and an indirect effect in which household location choice mitigates the...

How did pricing for mortgage credit risk change during the years prior to the 2008 financial crisis? Using a database from a major American bank that served as trustee for private-label mortgage-backed securitized (PLS) loans, this paper identifies a decline in credit spreads on mortgages...

This paper identifies for the first time the impact of borrowing constraints in the recent decline in homeownership rates. Using data from the Survey of Consumer Finance (SCF), we measure the combined impact of income, wealth and credit constraints on homeownership outcomes over time. It has...

This article performs an exercise in which we identify the potential impact of key drivers of home ownership rates on home ownership outcomes by 2050. We take no position on whether these key determinants in fact will come about. Rather we perform an exercise in which we test for their impact....

This paper presents summary statistics and a preliminary analysis of the success rate of loan modifications made in 2010 and January 2011 to residential mortgages securitized in private-label residential mortgage-backed securities. We find that these more recent private-label loan modifications...