Using Housing Futures in Mortgage Research

Mortgage Choices and Housing Speculation

We describe a rational expectations model in which speculative bubbles in house prices can emerge. Within this model both speculators and their lenders use interestonly mortgages (IOs) rather than traditional mortgages when there is a bubble. Absent a bubble, there is no tendency for IOs to be used. These insights are used to assess the extent to which house prices in US cities were driven by s...

GIS and Spatial Analysis of Housing and Mortgage Markets

This article provides a spatial analytical framework for using Geographic Information Systems (GIS) technology in housing and mortgage market research. It discusses the nature of neighborhood effects and their influence in residential market behavior and outcomes. It then discusses how GIS can aid with empirical research investigations. GIS, coupled with spatial analytical tools, offers an idea...

Mortgage Market Institutions and Housing Market Outcomes ∗ Edward Kung

I develop an equilibrium model of housing and mortgage markets where house prices, mortgage interest rates, and leverage ratios are all determined endogenously. Agents are forward looking and have rational expectations. House prices adjust so that demand from new buyers clears with supply created by existing sellers. Housing demand is affected by the price and availability of contracts in the m...

Exploring the Futures of Mobiles for Social Development Using Ethnographic Futures Research

As new technologies such as mobile phones impact peoples’ daily lives, interest into their potential is also growing. In this research paper we aim to identify and explore how a particular research approach, in this instance, ethnographic futures research (EFR), can be utilized for future predictions of mobiles phones in social development activities in developing countries. The paper describes...

Long-Term Housing Futures for Australia: Using ‘Foresight’ to Explore Alternative Visions and Choices