How does debt affect macroeconomic stability? The answer to this question has important
implications, because both public and private debt levels have reached historic highs across …

Homeownership rates have increased significantly in many OECD countries over recent
decades. Using micro-econometric decomposition techniques, this paper shows that part of …

This article presents an empirical model of housing supply derived from urban growth
theory. This approach describes new housing construction as a function of changes in …

This paper examines the impact of the combined US state and federal mortgage interest
deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting …

House prices in many advanced economies have risen substantially in recent decades. But
experience indicates that housing prices can diverge from their long-run equilibrium or …

In this paper we analyze the factors that affect the tenure choice of young adults, highlighting
the impact of mortgage lender imposed borrowing constraints. The data set is a panel of …

The first book that explains the economics of housing policy for a general audience.
Planners, government officials, and public policy students will find that the economic …

While residents receive similar benefits from many local government programs, only about
one-third of all households have children in public schools. We argue that capitalization of …

Homeownership rates have increased significantly in many OECD countries over recent
decades. Using micro-econometric decomposition techniques, this paper shows that part of …

We present a comprehensive model of household tenure choice that guides our review of
the literature on the impacts of tax and subsidy policies and focuses our critiques of various …