In this paper I outline a framework that should help solve the current US housing crisis. Homeowners are given the possibility to refinance their house with a new 30-year mortgage that represents 80% of the current value of the property. The remaining 20% is financed by the homeowner. In...

We review the main studies on house price synchronization and conduct an empirical analysis using OECD house price indices. We provide a discussion of the contributing factors of synchronization, with a focus on the demand and supply dimensions. Synchronization across both countries and cities...