high saving rate to fast-rising housing prices in China. However, cross-sectional data do not show a significant … relationship between housing prices and household saving rates. This article uses a simple consumption-saving model to explain why … rising housing prices per se cannot explain China's high household saving rate. Although borrowing constraints and …

In this paper I analyze the effects of innovations in information technology on the mortgage and housing markets using … explicitly model the housing tenure choices of households. Lenders offer individual-specific mortgage contracts to home buyers …

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 …

Chetty and Szeidl (2012) propose to estimate the effect of housing on portfolio choice by distinguishing between the …

investors who acquire housing services by either renting or owning a home. The joint existence of these two investment vehicles …

The Taxpayer Relief Act of 1997 (TRA97) significantly changed the tax treatment of housing capital gains in the United …

This paper models individual demand for housing over the life-cycle, and shows the implications of this behaviour for …, positive house price shocks lead to consumption booms among the old and a fall in aggregate demand for housing, whereas … positive income shocks lead to consumption booms among the young and a rise in aggregate demand for housing. (Copyright …

heterogeneous, infinitely lived households and competitive housing and mortgage markets. Households have the option to default on … equilibrium mortgage origination and increases aggregate welfare, but has little effect on foreclosure rates and housing …