The role of real estate during the global financial and economic crisis has prompted efforts to
better incorporate housing and financial channels into macro models, improve housing …

Online short-term rental (STR) platforms such as Airbnb have grown spectacularly. We study
the effects of regulation of these platforms on the housing market using a quasi-experimental …

In this paper, I identify shocks to interest rates resulting from two administrative details in
adjustable‐rate mortgage contract terms: the choice of financial index and the choice of …

US house prices fell nearly 30% between 2006 and 2012. Meanwhile, homeownership rates
declined as mortgage credit supply tightened and investors bought up properties. Although …

This paper studies the effects of public housing on private house prices. I examine the
impact of a large and negative housing supply shock caused by the demolition of public …

We provide evidence that lenders differ in their ex post incentives to internalize price‐default
externalities associated with the liquidation of collateralized debt. Using the mortgage …

Numerous studies have found that foreclosed properties sell at a discount and push down
the sale prices of nearby properties, which may be partly driven by poorer maintenance of …

The objective of residential Property Assessed Clean Energy (PACE) programs is to
increase environmentally friendly home renovations, like solar panel installations, for private …

We investigate the impact of Great Recession policies in California that substantially
increased lender pecuniary and time costs of foreclosure. We estimate that the California …

We show that profit‐seeking institutional investors provide valuable liquidity and spur the
recovery of distressed housing markets. Using a quasi‐natural experiment wherein investors …