Suchergebnisse
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23. Feb. 2021 · For instance, Figure 3 shows that across areas and during the housing boom, second-home purchase shares are highly correlated with markers of easy credit supply—such as high use of private-label securitization and of low documentation loans—as well as other factors including faster house price growth prior to the housing boom. However, for the specific case of second-home buying in ...
Second, the boom-bust in house prices explains half of the corresponding swings in nondurable expenditures through a wealth effect. Third, a large-scale debt forgiveness program would have done little to temper the collapse of house prices and expenditures but would have dramatically reduced foreclosures and induced a small, but persistent, increase in consumption during the recovery.
defaults during the bust attributable to prime borrowers (Albanesi, De Giorgi, Nosal, and Ploenzke, 2016); and (iii) the crucial role of young households in accounting for the dynamics of home ownership during this period (Hurst, 2017). Second, we find that that the boom and bust in house prices directly accounts for roughly
Second, the boom-bust in house prices explains half of the corresponding swings in nondurable expenditures through a wealth effect. Third, a large-scale debt forgiveness program would have done little to temper the collapse of house prices and expenditures but would have dramatically reduced foreclosures and induced a small, but persistent, increase in consumption during the recovery.
The Housing Boom and Bust: Model Meets Evidence. Giovanni Violante, Greg Kaplan and Kurt Mitman. No 12215, CEPR Discussion Papers from C.E.P.R. Discussion Papers Abstract: We build a model of the U.S. economy with multiple aggregate shocks (income, housing finance conditions, and beliefs about future housing demand) that generate fluctuations in equilibrium house prices.
BOOM AND BUST definition: 1. a situation in which an economy or industry goes through a period of growth, especially one in…. Learn more.
21. Juli 2020 · An interactive view of the housing boom and bust. This map was originally published in September 2013 and has been updated annually as new Home Mortgage Disclosure Act data become available. This 2020 update incorporates 2019 mortgage originations and includes information on purchase and refinance loans.
