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…
W13-8: The recent housing bust precipitated a wave of mortgage defaults, with over seven percent of the owner-occupied housing stock experiencing a foreclosure.…
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…