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Determinants of Multifamily Mortgage Default
Option-based models of mortgage default posit that the central measure of default risk is the loan-to-value (LTV) ratio. We argue, however, that an unrecognized problem with extending the basic option model to existing multifamily and commercial ...
Author(s): Wayne Archer, David Ling, Peter Elmer, David Harri...
Accession Number: 200921 | |
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The Varying Effects of Predatory Lending Laws on High-Cost Mortgage Applications
Federal, state, and local predatory lending laws are designed to restrict and in some cases prohibit certain types of high-cost mortgage credit in the subprime market. Empirical evidence using the spatial variation in these laws shows that the ...
Author(s): Anthony Pennington-Cross, Giang Ho
Accession Number: 200920 | |
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The Evolution of the Subprime Mortgage Market
This paper describes subprime lending in the mortgage market and how it has evolved through time. Subprime lending has introduced a substantial amount of risk-based pricing into the mortgage market by creating a myriad of prices and product choices ...
Author(s): Anthony Pennington-Cross, Souphala Chomsisengphet
Accession Number: 200919 | |
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The Impact of Building Restrictions on Housing Affordability
This study explores the housing affordability problem and examines the relationship between housing prices and construction costs. Using the R.S. Means Company’s data on construction costs, American Housing Survey data on the distribution of housing ...
Author(s): Edward Glaeser, Joseph Gyourko
Accession Number: 200918 | |
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Why Do We Have Urban Density Controls?
Almost all urban land use controls reduce permitted densities. This article analyzes restrictions on residential densities in a conventional model of density-distance functions. Density controls force development to extend farther than in ...
Author(s): Edwin Mills
Accession Number: 200917 | |
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Understanding Mortgage Market Behavior: Creating Good Mortgage Options for all Americans
This paper examines consumer and lender behavior in the increasingly complex mortgage marketplace and the implication of this behavior for the fair and efficient allocation of mortgage credit. This review suggests that many consumers have a limited ...
Author(s): William Apgar, Ren Essene
Accession Number: 200916 | |
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The Derived Demand for Urban Residential Land
In this paper I make use of data that has recently become available to estimate the demand function for urban residential land. I will also test whether this estimated demand function appears to agree with the notion of land as an input into the ...
Author(s): Richard Muth
Accession Number: 200915 | |
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Residential Supply Chain in Transition: Summary of Findings from Survey of Dealers
The past several years have seen dramatic changes in the distribution of residential building products, particularly as it relates to dealers serving homebuilders, remodeling contractors and others in the building trades (pro dealers). Whereas ...
Author(s): John Dunlop, William Apgar, Frederick Abernathy, D...
Accession Number: 200914 | |
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Research in supported housing
Background De-institutionalization has led to the provision of various forms of housing with or without support for people with mental illness in the community. In this paper, we review the conceptual issues related to the provision of ...
Author(s): Walid Fakhoury, Alison Murray, Geoff Shepherd, Ste...
Accession Number: 200913 | |
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Recourse and Residential Mortgage Default: Theory and Evidence from U.S. States
We analyze the impact of lender recourse on mortgage defaults theoretically and empirically across U.S. states. We study the effect of state laws regarding deficiency judgments in a model where lenders can use the threat of a deficiency judgment to ...
Author(s): Andra Ghent, Marianna Kudlyak
Accession Number: 200912 | |
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