We examine the effect of rising U.S. house prices on borrowing and spending from 2002 to 2006. There is strong heterogeneity in the marginal propensity to borrow and spend. Households in low income zi
The homeownership rate in the United States was essentially stagnant during the 1980's. This stagnation should be a source of concern if the rate reflects stagnant economic conditions and ownership op
These are the replication files for Davis, Huang, and Sapci, "Land price dynamics and macroeconomic fluctuations with imperfect substitution in real estate markets", published in the Journal of Econom
This paper examines the bidirectional relationship between consumer confidence (CC) and housing prices (HP) using a bootstrap sub-sample rolling causality test. The results show that CC and HP interac
