This paper shows how different housing submarkets are linked by residential vacancy chains – the series of moves across housing units initiated by the construction of new…
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…
Raphael Bostic, Kathleen Engel, Patricia McCoy, Anthony Pennington-Cross, Susan Wachter
•
February 1, 2008
UCC08-9: The subprime mortgage market, which consists of high-cost loans designed for borrowers with weak credit, has grown tremendously over the past ten years. Between…