Economic Consequences of Housing Speculation
نویسندگان
چکیده
منابع مشابه
Mortgage Choices and Housing Speculation
We describe a rational expectations model in which speculative bubbles in house prices can emerge. Within this model both speculators and their lenders use interestonly mortgages (IOs) rather than traditional mortgages when there is a bubble. Absent a bubble, there is no tendency for IOs to be used. These insights are used to assess the extent to which house prices in US cities were driven by s...
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ژورنال
عنوان ژورنال: The Review of Financial Studies
سال: 2020
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhaa030