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Landvoigt, Tim; Piazzesi, Monika; Schneider, Martin - In: American Economic Review 105 (2015) 4, pp. 1371-1407

This paper uses an assignment model to understand the cross section of house prices within a metro area. Movers' demand for housing is derived from a life-cycle problem with credit market frictions. Equilibrium house prices adjust to assign houses that differ by quality to movers who differ by...

Persistent link: https://www.econbiz.de/10011211792

Housing Cost Burden of Austrian Households: Results of a Recent Survey

Beer, Christian; Wagner, Karin - In: Monetary Policy & the Economy (2012) 4, pp. 78-89

This article presents the results of a survey carried out in spring 2012 to determine the level of housing costs incurred by Austrian households. The housing cost survey shows that the share of housing costs borne by homeowners (loan repayment plus operating expenses and energy costs) accounts...

Persistent link: https://www.econbiz.de/10011015365

Housing Wealth of Austrian Households

Fessler, Pirmin; Mooslechner, Peter; Schürz, Martin; … - In: Monetary Policy & the Economy (2009) 2, pp. 104-124

households. At the same time, the associated mortgage loans constitute the bulk of households’ liabilities. Therefore, detailed …

Persistent link: https://www.econbiz.de/10005105937

Do Real Estate Brokers Add Value When Listing Services Are Unbundled?

Bernheim, B. Douglas; Meer, Jonathan - National Bureau of Economic Research (NBER) - 2008

This paper measures the effects of real estate brokerage services provided to sellers, other than MLS listings, on the terms and timing of home sales. It is not obvious that sellers benefit from those services. On the one hand, brokers offer potentially useful knowledge and expertise. On the...

Persistent link: https://www.econbiz.de/10005718628

Housing Finance of Austrian Households

Albacete, Nicolas; Wagner, Karin - In: Monetary Policy & the Economy (2009) 3, pp. 62-92

This study presents a first summary of the housing finance results of the OeNB’s Household Survey on Housing Wealth in Austria. 22% of Austrian households have taken out debt to finance housing. The probability of holding such debt is significantly higher for younger and higher- income...

Persistent link: https://www.econbiz.de/10008623539

Can Owning a Home Hedge the Risk of Moving?

Sinai, Todd; Souleles, Nicholas - In: American Economic Journal: Economic Policy 5 (2013) 2, pp. 282-312

For households that face a possibility of moving across MSAs, the risk of home owning depends on the covariance of the sale prices of their current houses with the purchase prices of their likely future houses. We find empirically that households tend to move between highly correlated MSAs,...

Persistent link: https://www.econbiz.de/10010643107

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

Agarwal, Sumit; Ben-David, Itzhak; Yao, Vincent - National Bureau of Economic Research (NBER) - 2013

Financially constrained borrowers have the incentive to influence the appraisal process in order to increase borrowing or reduce the interest rate. We document that the average valuation bias for residential refinance transactions is above 5%. The bias is larger for highly leveraged...

Persistent link: https://www.econbiz.de/10010703331

Long-Term Impacts of Individual Development Accounts on Homeownership among Baseline Renters: Follow-Up Evidence from a Randomized Experiment

Grinstein-Weiss, Michal; Sherraden, Michael; Gale, … - In: American Economic Journal: Economic Policy 5 (2013) 1, pp. 122-45

We examine the long-term effects of a 1998-2003 randomized experiment in Tulsa, Oklahoma with Individual Development Accounts that offered low-income households 2:1 matching funds for housing down payments. Prior work shows that, among households who rented in 1998, homeownership rates increased...

Persistent link: https://www.econbiz.de/10010604120

How mortgage finance affects the urban landscape

Haughwout, Andrew F.; Tracy, Joseph; Chan, Sewin - Federal Reserve Bank of New York - 2015

This chapter considers the structure of mortgage finance in the U.S., and its role in shaping patterns of homeownership … the design features of mortgage contracts that distinguish them from other loans, and that have important implications for … issues presented in the rest of the chapter. We then explain how mortgage finance interacts with public policy, particularly …

Persistent link: https://www.econbiz.de/10011185868

Some international trends in the regulation of mortgage markets: Implications for Spain

Fernandez de Lis, Santiago; Chaibi, Saifeddine; … - BBVA Research, Grupo BBVA - 2013

In this document, the main characteristics of the mortgage markets regulation in developed countries will be analyzed … in four sections, covering the most relevant issues of (i) the mortgage product, (ii) the financial entities that offer … these products, (iii) the client to whom these products are sold and (iv) the relationship between mortgage regulation and …

Persistent link: https://www.econbiz.de/10010850138