The system of sector housing investment and finance that has evolved in the United States has long had a powerful influence on the costs, type, and location of housing, given…
This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
W01-10: The multifamily mortgage market has changed dramatically over the last two decades. The relative importance of the thrifts—once the major source of financing for…