This paper reviews the literature that describes the micro-level economic and social
consequences of homeownership. We adopt an interdisciplinary approach and include …

The decision of buying residential property may be one of the most important transactions
people will ever make, and the emotional attachment when houses become homes is …

This paper examines the history of internal migration in the United States since the 1980s.
By most measures, internal migration in the United States is at a 30-year low. The …

We propose a life-cycle model of the housing market with a property ladder and a credit
constraint. We focus on equilibria that replicate the facts that credit constraints delay some …

In this paper we develop a parsimonious model that links underlying changes in location-
specific risk perceptions to housing market dynamics. Given estimates of both the price and …

This paper exploits the recent variation in US house prices to examine the effect of equity
constraints and nominal loss aversion on household mobility. Detailed data from the 1985 …

Using data from the British Household Panel Survey, we investigate the relationships
between labour market dynamics, housing tenure and residential mobility. Panel data allow …

Spatial fixity is one of the characteristics that distinguishes housing from most other goods
and services in the economy. In general, housing cannot be moved from one part of the …

This paper provides the first rigorous assessment of the homeownership experiences of
subprime borrowers. We consider homeowners who used subprime mortgages to buy their …

Proponents of homeownership policies often argue that homeowners participate more
actively in community life and civic affairs than renters. Although research suggests higher …