House Prices and Credit Constraints: Making Sense of the US Experience
Most US house price models break down in the mid-2000s, due to the omission of exogenous changes in mortgage credit supply (associated with the sub-prime mortgage boom) from house price-to-rent ratio and inverted housing demand models. Previous models lack data on credit constraints facing first-tim...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Blackwell Publishing
2011
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