I embed a search and matching model of the housing market into a DSGE framework and use it to address three main questions. First, what model of search and price determination best describes the housing market? Second, can a general equilibrium model generate the observed correlations between housing market variables? Third, what shocks have driven the historical behavior of the housing market,...

We integrate local labor market data on worker flows (accession and separation rates), job flows (creation and destruction rates), employment levels, and earnings with MSA-level data on housing prices and local area unemployment, in order to study the local labor market dynamics associated with the U.S. housing price bubble of the late 2000s. We proceed to study the magnitude and timing of the ...

Using data for welfare recipients who left the Temporary Assistance for Needy Families program during 1996 in Cuyahoga County (Cleveland), Ohio, the authors compare the determinants of labor market outcomes across three classes of housing assistance: those who receive a certificate or voucher, those who reside in a traditional public housing project, and those who reside in a Section 8 housing ...

In this paper, we examine cross-regional spillover effects in the Korean housing market, using the predictive directional spillover index and the connectedness measurement. The basic finding is that Seoul has been the most influential market in Korea among various combinations of regional housing markets. We also presented evidence that other metropolitan cities affect only neighboring regions....

The goal of this paper is to analyze the effect of wildfire hazard risk on residential housing prices in Colorado Springs, Colorado. How does the risk of wildfire impact transaction values, and do buyers and sellers in the residential housing market accurately capitalize their perception of low probability events such as wildfires into the price of a house? Working within the hedonic property m...

ijur_873 291..313 Despite decades of government reform, the American housing credit system continues to mirror long-standing patterns of racial segregation and inequality. Consistent with this trend, the current housing crisis reveals an unusually high concentration of subprime mortgage activity and property foreclosures in non-white residential settlements across the nation. Given the generall...