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…
W09-2: Real estate owned (REO) housing resulting from the recent foreclosure crisis threatens to destabilize low- and moderate-income neighborhoods across the country.…
William Goetzmann, Matthew Spiegel
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October 8, 2001
Homeownership increases the incentive to maintain property and neighborhood, as well as decreasing the outflow of rents from low-income zones. However these benefits are not…