Housing Busts and Household Mobility

By Fernando V. Ferreira, Joseph Gyourko, Joseph S. Tracy. 2010

411 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/4d269a1831280796bf6e596f94eb41f6cb31906f

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Citations in the corpus

Second Chances: Subprime Mortgage Modification and Re-Default (2009, positive): “The results in Ferreira et al (2010) imply that this will lead to on average a reduction in the household two-year mobility rate of over 4.4 percentage points – more than a forty percent reduction in the overall rate.”
Are Private Markets and Filtering a Viable Source of Low-Income Housing? Estimates from a "Repeat Income" Model (2014, background): “Recent exceptions include Harding et al. (2003, 2008) and Ferreira et al (2010).”
Labor Reallocation over the Business Cycle: New Evidence from Internal Migration (2007, positive): “Rather, the large decrease might be related to the housing market contraction, which began around 2006 and may have prevented homeowners with underwater mortgages from moving (Ferreira, Gyourko, and Tracy 2010).”
Internal Migration in Decline (2013, background): “Second, migration is associated with immediate financial expenses that a more highly indebted household is unable to afford (see Sjaastad 1962; Ferreira, Gyourko, and Tracy 2010): As debt levels have risen in the United States, aggregate migration rates should have declined.”
The equilibrium effect of fundamentals on house prices and rents (2013, methodology): “26 Using the 1985–2001 AHS data, Harding et al. (2007) estimate that time between sales for owner–occupiers averages roughly 6 years. Rosenthal (1988) estimate average duration in the home for homeowners at 7 years in the PSID.”
Quantifying Sentiment with News Media across Local Housing Markets (2018, background): “…Mortgage Disclosure Act (HMDA) requires lending institutions to file reports on all mortgage applications, and 10 Specifically, I control for loan-to-value ratios, the fraction of subprime loans following Ferreira, Gyourko, and Tracy (2010), and the 6-month London Interbank O↵ered Rate (LIBOR).”
The Evolution of Homeownership Rates in Selected OECD Countries: Demographic and Public Policy Influences (2011, background): “Indeed, recent experience in the United States highlights that policies that promote homeownership can have adverse consequences for mobility to the extent that they have been associated with a rise in negative equity (Ferreira et al. 2008; Caldera Sánchez and Andrews, 2011).”
Residential Land Use Regulation and the US Housing Price Cycle Between 2000 and 2009 (2012, background): “, 1996), labor mobility (Ferreira et al., 2010) and the functioning of the banking system (Helbling and Terrones, 2003; Trichet, 2005), it is important to understand what factors contribute to house price busts.”
How to Deal with Real Estate Booms: Lessons from Country Experiences (2011, background): “9 Ferreira et al. (2010) also find evidence of a negative relationship between negative equity and mobility micro data from the American Housing Survey.”
Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program (2016, background): “Our work also relates to the literature on the housing crisis (e.g., Mian and Sufi 2009; Mayer et al. 2009; Gyourko et al., 2009, Keys et al. 2010, 2011; Rajan et al. 2010; and Demyanyk and Van Hemert 2011, Gyourko and Fernando 2011).”
Negative Equity Does Not Reduce Homeowners' Mobility (2012, background): “1 Ferreira, Gyourko, and Tracy (2010, hereafter FGT) report that homeowners who have negative equity are one-third less likely to move.”