Assets in tax-deferred retirement accounts (TDA) and housing are two major components of household portfolios. In this … paper, we develop a life-cycle model to examine the interaction between households' use of TDA and their housing decisions … earlier in their lives. On the other hand, housing-related policies, such as a minimum down payment requirement and mortgage …

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 …

the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …

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 …

What is the role of heterogenous house-price expectations for boom-bust cycles in the housing market? We exploit a … unique Dutch panel data set on households' house price expectations and their consumption, savings and housing choices for … the period 2003-2016. This period was characterized by a pronounced boom-bust cycle in the housing market. Conditioning …

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

rate to fast rising housing prices and other costs of living in China. This article uses simple economic logic to show that … rising housing prices and living costs per se cannot explain China's high household saving rate. Although borrowing … constraints and demographic changes can help translate housing prices to the aggregate saving rate, quantitative simulations using …

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 …