This article reviews the surge in research on mortgage default inspired by the recent
foreclosure crisis. Economists already understood a great deal about default, both …

This paper considers the role of the asking price in housing transactions both theoretically
and empirically. Significant fractions of housing transactions involve sales prices that are …

US house prices fell nearly 30% between 2006 and 2012. Meanwhile, homeownership rates
declined as mortgage credit supply tightened and investors bought up properties. Although …

Sociological accounts of urban disinvestment processes rarely assess how landlords'
variable investment strategies may be facilitated or constrained by the legal environment …

We use Google search query data to develop a broad-based and real-time index of
mortgage default risk. Unlike established indicators, our Mortgage Default Risk Index (MDRI) …

The issue of vacant houses is receiving increased attention in the field of urban policy and
planning in Japan. We aim to describe the factors of vacant houses that lead to …

We measure the effect of foreclosures on the sale prices of nearby properties using a
dataset of condominiums in Boston. A foreclosure in the same association and at the same …

Although there is broad recognition that cities differ in their tendency to experience house
price bubbles, most studies assume away any possibility of within-city heterogeneity in …

Employing parcel-level data on vacant houses in a depopulating city in the Tokyo
metropolitan area, we provide the evidence of negative externalities of long-term vacant …

We investigate the impact of Great Recession policies in California that substantially
increased lender pecuniary and time costs of foreclosure. We estimate that the California …