Working Papers

#820 · Credit Risk Transfer, Informed Markets, and Securitization Susan M. Wachter Credit Risk Transfers Global Financial Crisis Mortgages

#819 · Endowments and Minority Homeownership Arthur Acolin, Desen Lin, Susan M. Wachter Ethnic Factors Housing & Residential

#818 · Real Estate and The Great Crisis: Lessons For Macroprudential Policy John V. Duca, Lilit Popoyan, Susan M. Wachter Contemporary Economic Policy Commercial Real Estate economic policy Great Recession Housing & Residential Macroeconomics

#806 · Credit Risk, Informed Markets, and Securitization: Implications for CRT and GSEs Susan M. Wachter Credit Risk Transfers Global Financial Crisis Mortgages

#805 · Price Discovery in the Credit Markets Andrey Pavlov, Eduardo Schwartz and Susan M. Wachter Credit Default Swaps Credit Insurance Price Discovery

#804 · Lending Competition and Non-Traditional Mortgages* Arthur Acolin, Xudong An and Susan M. Wachter Non-Traditional Mortgages Recession

#803 · Accessing Homeownership With Credit Constraints Arthur Acolin, Laurie Goodman and Susan M. Wachter Borrowing Constraints Global Housing & Residential Mortgages Recession Sustainability

#797 · The Consequences of REIT index membership for Return Patterns Andrey D. Pavlov, Eva Steiner and Susan M. Wachter Investing Real Estate Investment Trusts

#796 · Why are aggressive mortgage products bad for the housing market? Andrew Davidson, Alex Levin, Andrey D. Pavlov and Susan M. Wachter Housing & Residential Mortgages

#793 · Borrowing Constraints and Homeownership over the Recent Cycle Arthur Acolin, Jesse Bricker, Paul S. Calem and Susan M. Wachter Borrowing Constraints Housing & Residential Mortgages

#792 · Homeownership and the Use of Nontraditional and Subprime Mortgages Arthur Acolin, Raphael W. Bostic, Xudong An and Susan M. Wachter Mortgages Non-Traditional Mortgages Sub-Prime Mortgages

#791 · Borrowing Constraints and Homeownership Arthur Acolin, Jesse Bricker, Paul S. Calem and Susan M. Wachter Borrowing Constraints Housing & Residential Recession United States

#790 · A Renter or Homeowner Nation? Arthur Acolin, Laurie S. Goodman and Susan M. Wachter Demographics Housing & Residential Rental United States

#786 · REIT Financing Choices: Preparation Matters Andrey D. Pavlov, Eva Steiner and Susan M. Wachter Europe Real Estate Investment Trusts United States

#785 · Second Liens and the Leverage Option Adam J. Levitin and Susan M. Wachter Borrowing Constraints Housing & Residential Mortgages United States

#781 · Global Food Prices and Domestic Inflation: Some Cross-Country Evidence Davide Furceri, Prakash Loungani, John Simon and Susan M. Wachter Global Macroeconomics Microeconomics

#776 · Macroeconomic risk factors and the role of mispriced credit in the returns from international real estate securities Andrey D. Pavlov, Eva Steiner, Susan M. Wachter Asia Canada Equity Market Europe Global Macroeconomics Real Estate Investment Trusts

#775 · Second-Liens and the Leverage Option Adam J. Levitin and Susan M. Wachter Borrowing Constraints Housing & Residential Mortgages United States

#773 · Urban Governance and Development of Informality in China and India Arthur Acocca, Shahana Chattaraj and Susan M. Wachter China Development India Urban

#769 · The Market Structure of Securitization and the US Housing Bubble Susan M. Wachter Borrowing Constraints Debt Market

#767 · The Housing and Credit Bubbles in the US and Europe: A Brief Comparison Susan M. Wachter Europe Mortgages United States

#766 · Credit Supply and Housing Prices in National and Local Markets Susan M. Wachter Development Mortgages United States

#765 · Repeat Sales House Price Index Methodology Chaitra H. Nagaraja, Lawrence D. Brown and Susan M. Wachter Housing & Residential United States Urban

#764 · Real Estate Investment and Leverage: In Good Times and in Bad Andrey D. Pavlov, Eva Steiner and Susan M. Wachter Commercial Brokerage Investing Real Estate Investment Trusts

#763 · Transparency in the Mortgage Market Andrey D. Pavlov, Susan M. Wachter and Albert Alex Zevele Borrowing Constraints Mortgages

#747 · The Commercial Real Estate Bubble Adam J. Levitin and Susan M. Wachter Commercial Brokerage Debt Market Mortgages United States

#746 · Second Discussant Comment on “The Future of U.S. Housing Finance Reform” Susan M. Wachter Borrowing Constraints Mortgages United States

#745 · Mortgage Default Option Mispricing and Procyclicality Andrew Davidson, Alex Levin and Susan M. Wachter Borrowing Constraints Mortgages

#741 · Borrowing Constraints during the Housing Bubble Irina Barakova, Paul S. Calem and Susan M. Wachter Borrowing Constraints Housing & Residential United States

#728 · What Next for Housing Finance? Adam J. Levitin and Susan M. Wachter Borrowing Constraints Mortgages Political Risk

#724 · Repeat Sales House Price Index Methodology Chaitra H. Nagaraja, Lawrence D. Brown and Susan M. Wachter Commercial Brokerage Development United States Urban

#723 · The Public Option in Housing Finance Adam Leviti and Susan M. Wachter Mortgages United States

#722 · The Affordability Challenge: Inclusionary Housing and Community Land Trusts in a Federal System Richard Voith and Susan M. Wachter Housing & Residential Housing Supply United States

#721 · Real Estate Prices in Beijing, 1644 to 1840 Daniel Raff, Susan M. Wachter and Se Yan China Housing & Residential Housing Supply Political Risk

#720 · Macroeconomic risk factors and the role of mispriced credit in the returns from international real estate securities Andrey D. Pavlov, Eva Steiner and Susan M. Wachter Asia Canada Europe Investing Macroeconomics Real Estate Investment Trusts United States

#718 · Why Housing? Adam J. Levitin and Susan M. Wachter Development Housing Supply Mortgages

#717 · The Housing Bubble Adam J. Levitin and Susan M. Wachter Borrowing Constraints Housing Supply Mortgages

#716 · Inflation and Real Estate Investments Brad Case and Susan M. Wachter Commercial Brokerage Real Estate Investment Trusts United States

#715 · The Rise, Fall, and Return of the Public Option in Housing Finance Adam J. Levitin and Susan M. Wachter Borrowing Constraints Housing Supply Mortgages

#702 · Booms and Busts in Real Estate Susan M. Wachter and Anthony W. Orlando Development Real Estate Investment Trusts

#691 · Information Failure and the U.S. Mortgage Crisis Adam J. Levitin and Susan M. Wachter Commercial Brokerage Housing & Residential Mortgages

#690 · Implications of the Housing Market Bubble for Sustainable Homeownership Paul S. Calem, Leonard Nakamura and Susan M. Wachter Borrowing Constraints Housing & Residential Mortgages

#689 · Explaining the Housing Bubble Adam J. Levitin and Susan M. Wachter Borrowing Constraints Housing & Residential Mortgages Rental

#671 · Bad and Good Securitization Susan M. Wachter Investing Mortgages Sub-Prime Mortgages United States

#668 · The Need for Government Intervention to Protect and Advance the Public Interest in Consumer and Mortgage Credit Markets Eric S. Belsky and Susan M. Wachter Borrowing Constraints Housing & Residential Mortgages

#667 · Securitization: Cause or Remedy of the Financial Crisis? Adam J. Levitin, Andrey D. Pavlov and Susan M. Wachter Housing & Residential Mortgages Non-Traditional Mortgages United States

#655 · Subprime Lending and Real Estate Prices Andrey D. Pavlov and Susan M. Wachter Mortgages Sub-Prime Mortgages

#654 · The Ongoing Financial Upheaval: Understanding the Sources and Way Out Susan M. Wachter Macroeconomics Mortgages Recession

#653 · Mortgage Product Substitution and State Anti-Predatory Lending Laws: Better Loans and Better Borrowers? Raphael Bostic, Souphala Chomsisengphet, Kathleen C. Engel, Patricia A. McCoy, Anthony Pennington-Cross and Susan M. Wachter Borrowing Constraints Foreclosures Mortgages

#646 · Explaining the United States’ Uniquely Bad Housing Market Jesse M. Abraham, Andrey D. Pavlov and Susan M. Wachter Demographics Macroeconomics Mortgages United States

#644 · Systemic Risk Through Securitization: The Result of Deregulation and Regulatory Failure Patricia A. McCoy, Andrey D. Pavlov and Susan M. Wachter Mortgages Non-Traditional Mortgages Sub-Prime Mortgages

#643 · Sustainable Homeownership Paul S. Calem, Marsha J. Courchane and Susan M. Wachter Foreclosures Mortgages Sustainability Urban

#639 · Credit Impairment and Housing Tenure Choice Paul S. Calem, Simon Firestone and Susan M. Wachter Demographics Mortgages Sub-Prime Mortgages

#614 · Incentives for Mortgage Lending in Asia Richard Green, Roberto S. Mariano, Andrey D. Pavlov and Susan M. Wachter Asia Macroeconomics Mortgages

#613 · Mortgage Put Options and Real Estate Markets Andrey D. Pavlov and Susan M. Wachter Asia Global Mortgages

#607 · Subprime Lending and House Price Volatility Andrey D. Pavlov and Susan M. Wachter Housing Supply Mortgages Sub-Prime Mortgages United States

#585 · The Housing Finance Revolution: Implications for the Subprime Market Richard K. Green and Susan M. Wachter Global Investing Mortgages Sub-Prime Mortgages

#566 · Aggressive Lending and Real Estate Markets Andrey D. Pavlov and Susan M. Wachter Mortgages Sub-Prime Mortgages Urban

#565 · State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms Susan M. Wachter, Raphael Bostic, Kathleen Engel and Anthony Pennington-Cross Mortgages Sub-Prime Mortgages United States

#547 · Subprime Lending: Neighborhood Patterns Over Time Jonathan Hershaff, Susan M. Wachter and Karl Russo Demographics Ethnic Factors Sub-Prime Mortgages Urban

#545 · Underpriced Default Spread Exacerbates Market Crashes Winston T.H. Koh, Roberto S. Mariano, Andrey D. Pavlov, Sock Yong Phang, Augustine H. H. Tan and Susan M. Wachter Borrowing Constraints Global Investing

#535 · What is a Tree Worth? Green-city Strategies and Housing Prices Susan M. Wachter and Grace Wong Development Sustainability Urban

#532 · Bank Lending and Real Estate in Asia: Market Optimism and Asset Bubbles Winston T.H. Koh, Roberto S. Mariano, Andrey D. Pavlov, Sock Yong Phang, Augustine H. H. Tan and Susan M. Wachter Asia Mortgages

#527 · Immigration and the Neighborhood Albert Saiz and Susan M. Wachter Ethnic Factors Housing & Residential Urban

#518 · Real Estate Crashes and Bank Lending Andrey D. Pavlov and Susan M. Wachter Asia Macroeconomics Mortgages

#509 · Housing and Government Policy in the Global Economy: The Cases of Korea and the US Susan M. Wachter Asia Housing & Residential Macroeconomics United States

#506 · Real Estate Crashes and Bank Lending Andrey D. Pavlov and Susan M. Wachter Asia Borrowing Constraints Macroeconomics

#482 · Hitting the Wall: Credit as an Impediment to Homeownership Raphael W. Bostic, Paul S. Calem and Susan M. Wachter Demographics Housing & Residential Rental United States

#472 · Housing’s Changing Role in the Business Cycle Susan M. Wachter and Mark Zandi Housing & Residential Mortgages United States

#463 · The Anatomy of Non-recourse Lending Andrey D. Pavlov and Susan M. Wachter Debt Market Equity Market

#461 · Bank Lending and Real Estate in Asia: Market Optimism and Asset Bubbles Winston T.H. Koh, Roberto S. Mariano, Andrey D. Pavlov, Sock Yong Phang, Augustine H. H. Tan and Susan M. Wachter Asia Mortgages

#451 · Real Estate Crashes and Bank Lending Andrey D. Pavlov and Susan M. Wachter Asia Investing Macroeconomics

#435 · Does Credit Quality Matter for Homeownership? Irina Barakova, Raphael Bostic, Paul S. Calem and Susan M. Wachter Borrowing Constraints Housing & Residential Microeconomics United States

#433 · Immigration and Housing Rents in American Cities Albert Saiz and Susan M. Wachter Ethnic Factors Rental United States Urban

#410 · Does Credit Quality Matter for Homeownership? Irina Barakova, Raphael Bostic, Paul S. Calem and Susan M. Wachter Borrowing Constraints Housing & Residential Macroeconomics Mortgages United States

#409 · Managing Metropolitan Futures: The Role of Information Intermediaries Joseph Ferreira, Andrew Reamer and Susan M. Wachter Demographics Development Macroeconomics Urban

#408 · Robbing the Bank: Non-recourse Lending and Asset Prices Andrey D. Pavlov and Susan M. Wachter Commercial Brokerage Debt Market Investing

#405 · The Impacts Of Affordable Lending Efforts On Homeownership Rates Roberto G. Quercia, George W. McCarthy and Susan M. Wachter Demographics Ethnic Factors Housing & Residential Urban

#404 · The Neighborhood Distribution of Subprime Mortgage Lending Paul S. Calem, Kevin Gillen and Susan M. Wachter Demographics Ethnic Factors Sub-Prime Mortgages Urban

#402 · Bubbles in Real Estate Markets Richard Herring and Susan M. Wachter Commercial Brokerage Equity Market Investing

#401 · The Role of Speculation in Real Estate Cycles Stephen Malpezzi and Susan M. Wachter Housing Supply Investing

#383 · Anistropic Autocorrelation in House Prices Kevin Gillen, Thomas Thibodeau and Susan M. Wachter Architecture Housing & Residential Urban

#320 · Employment Access, Residential Location and Homeownership Yongheng Deng, Stephen L. Ross and Susan M. Wachter Demographics Ethnic Factors Housing & Residential

#316 · The Differential Impacts of Federally Assisted Housing Programs on Nearby Property Values: A Philadelphia Case Study Chang Moo-Lee, Dennis P. Culhane and Susan M. Wachter Demographics Development Urban

#308 · Polarization and Public Housing in the United States William H. Carter, Michael H. Schill and Susan M. Wachter Demographics Housing & Residential United States Urban

#307 · An Economic Analysis of Housing Abandonment Benjamin P. Scafidi, Michael H. Schill and Susan M. Wachter Development Housing & Residential Urban

#304 · The Impacts of Affordable Lending Efforts on Home Ownership Rates Roberto G. Quercia, George W. McCarthy and Susan M. Wachter Demographics Housing & Residential Investing

#289 · The Future of Public Housing Michael H. Schill and Susan M. Wachter Demographics Development United States

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