Mainstream financial institutions – banks, savings and loans, and credit unions – create and allocate capital and economic opportunities through their central and defining function of taking in deposits and making loans. This process determines where credit and capital will flow. As such, it...

In a Bewley model with endogenous price volatility, home ownership and mobility across locations and jobs, we assess the contribution of financial constraints, housing illiquidities and house price risk to home ownership over the life cycle. The model can explain the rise in home ownership and...

We investigate the impact of large swings in the housing market on nonmortgage borrowing, including student, credit card, auto, and home equity debts. For this purpose, we use CoreLogic geographic house price variation, matched with rich data on consumer liabilities from the Equifax-sourced...

This paper investigates the link between job satisfaction and home ownership. We explicitly focus on the effect of a transition from non-ownership to ownership on the self-reported job satisfaction scores. In other words, we concentrate on the change in job satisfaction response for individuals...

In order to examine the impact of the economic crisis on the home ownership pattern, we first review the basic structural features of the Greek housing system. This necessarily involves a discussion of the distinctive home ownership regimes found in Southern European countries as well as the...

This paper offers an empirical test of the effect of the mortgage interest deduction (MID) on both the extensive (own vs. rent) and intensive (size of home) housing purchase margins. Using state level differences in MID availability to identify, I examine this relationship using standard...

Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...

A speech delivered by Charles Evans before the Summit on REO and Vacant Property Strategies for Neighborhood Stabilization on September 1, 2010, in Washington, DC.

In Senegal, the real estate sector drains the majority of investments made by Senegalese expatriates. Migrant remittances could thus play a positive role in improving the housing conditions of households in Dakar. This paper aims to test this hypothesis via a series of analyses conducted on data...