September 21, 2016
- In a paper titled, “Sales of Distressed Residential Property: What Have We Learned from Recent Research,” the authors summarize research findings on three topics: the impact of changes in housing prices on foreclosures; the impact of foreclosure on the sales price of the foreclosed house; and the impact of foreclosure on the sales prices of nearby houses.
- A paper titled, “The Effect of Housing on Portfolio Choice,” shows that characterizing the effects of housing on portfolios requires distinguishing between the effects of home equity and mortgage debt.
- An article titled, “A Dynamic Model of the Housing Market: The Role of Vacancies,” highlights the need for a better understanding of the dynamics of the housing market and the mechanisms that drive and sustain periods of disequilibrium. In this analysis, I develop and estimate a dynamic model of the housing market where vacancies naturally arise as the error correction mechanism.
- A paper titled, “The Role of foreclosures in Determining Housing Capital Expenditures,” studies how foreclosures affect capital expenditure investments in residential properties.
- A paper titled, “Housing Market Dynamics: Disequilibrium, Mortgage Default and Reverse Mortgages,” is an introductory paper which serves to set the stage by relating the papers in the 2013 FSU-UF Critical Issues Symposium entitled “Housing Market Issues: Initiatives, Policies and the Economy” to previous literature. It provides both a clear picture of the state of knowledge in these critical areas and the significant contributions of these recent studies.
- A paper titled, “If We Build it, Will They Come? The Housing Stock and the Socioeconomic Integration of Elementary Schools,” shows that increasing the stock of rental and affordable housing units in middle- and high-income neighborhoods has an important effect on the number of poor children attending schools. Our results also reveal the types of housing units that have the largest impacts.