This paper examines the welfare cost of rare housing disasters characterized by large drops in house prices. I … construct an overlapping generations general equilibrium model with recursive preferences and housing disaster shocks. The … likelihood and magnitude of housing disasters are inferred from historic housing market experiences in the OECD. The model shows …

In this paper, we estimate the effect on housing prices of the expansion of the Vancouver SkyTrain rapid transit … expansion increases housing prices not only in neighborhoods where the expansion occurred, but also in those with access to pre …-existing segments of the network. We show how these network housing price effects depend on household commuting patterns, and discuss …

The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house … price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing … and non-housing demand are noisy and housing supply is not perfectly elastic. We simulate a model in which a common factor …

make decisions based on their perceived level of housing wealth. Numerical simulations generate the effects of house value …

This paper produces new evidence and stylised facts on housing, wealth accumulation and wealth distribution, relying on … questions: i) How is homeownership and housing tenure distributed across the population along various socio …-economic characteristics such as income, wealth and age? What is the weight of housing in households’ balance sheets and how does this vary …

importance. In the second part of the paper we employ a standard model of dynamic optimisation with housing demand and seasonal … housing consumption …

This paper investigates the US housing market from just before the Great Recession onward (2006-19) and assesses the … from the housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can …, indicating the importance of stock-flow matching for understanding housing market dynamics. …

This paper investigates the US housing market from just before the Great Recession onward (2006-2019) and assesses the … housing slump sooner, faster, and more prominently than slower sales. The simulated stock-flow matching model can not only … the importance of stock-flow matching for understanding housing market dynamics. …