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…
This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
W98-7: Due to the financing mechanisms currently available, homeowners tend to have too much of their portfolios invested in their homes and institutional investors have…