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…
MF10-5: The U.S. mortgage finance system has gone from the envy of the world to a case study of failure in 2 short years. As recently as the 2003-2005 period the system…
W04-13: Over the past 50 years, housing expenditures have accounted for more than one fifth of the nation’s gross domestic product. But housing’s influence on the…