. Empirically, we find a foreclosure increases a nearby home's time-on-market by approximately 30%, on average, which is primarily … liquidity effects. However, when there is no surprise and a nearby foreclosure remains through the entire marketing period …

constraints. During housing busts, longer selling times spill over into higher foreclosure risk, thereby magnifying the response …, the reverse occurs. Based on these insights, I consider a foreclosure reform that makes all mortgages full recourse, and I …

externalities from foreclosures. VPROs were widely adopted by local governments across the United States during the foreclosure … enactment of VPROs in Florida more than halved the negative externality from foreclosure. This finding is robust to a rich set …

prices fall and the likelihood of foreclosure increases; (2) lenders pursue a strategy of low investment in real estate owned …

I develop an equilibrium model of housing and default to jointly analyze the effects of bankruptcy and foreclosure … debt. I show that the interaction between foreclosure and bankruptcy decisions is crucial for explaining the observed cross … bankruptcy rates but increased foreclosure rates, and that the Home Affordable Refinance Program reduced foreclosures during the …