House Price Volatility and the Housing Ladder
نویسندگان
چکیده
منابع مشابه
House Price Volatility and the Housing Ladder
This paper investigates the effects of housing price risk on housing choices over the life-cycle. Housing price risk can be substantial but, unlike other risky assets which people can avoid, the fact that most people will eventually own their home creates an insurance demand for housing assets early in life. Our contribution is to focus on the importance of home ownership and housing wealth as ...
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A typical U.S. family devotes about a quarter of its annual income and half or more of its net worth to housing. Both the level and volatility of house prices thus have important implications for household behavior and welfare, as well as for the aggregate U.S. economy. Recent research has emphasized the importance of housing supply in determining house prices in different U.S. markets. This di...
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This paper establishes a theoretical and empirical link between the use of aggressive mortgage lending instruments, such as interest only, negative amortization or subprime, mortgages and the underlying house price volatility. Such instruments, which come into existence through innovation or financial deregulation, allow more borrowing than otherwise would occur. Within the context of a theoret...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1680657