Why do national trends in house prices spread more to some cities than to others? This paper proposes an explanation of house price contagion based on migration spillovers…
What is the microelasticity of mortgage demand to interest rates? Despite the importance of this parameter for models of monetary policy efficacy, little is known about the…
W13-2: Investing in single-family homes is not a new business. However, the magnitude of homes flowing through foreclosure and into investor ownership since 2007 in many…