55
Views
0
CrossRef citations to date
0
Altmetric
Research Articles

Holding Onto the Past: Previous Homes, Post-Move Housing Consumption, and the Great Recession

ORCID Icon, ORCID Icon, &
Pages 214-244 | Received 05 Jun 2022, Accepted 10 May 2023, Published online: 14 Sep 2023

References

  • Agarwal, S. (2007). The impact of homeowners’ housing wealth misestimation on consumption and saving decisions. Real Estate Economics, 35(2), 135–154. https://doi.org/10.1111/j.1540-6229.2007.00185.x
  • Allen, M., Rutherford, R., & Springer, T. (1997). Reexamining the impact of employee relocation assistance on housing prices. Journal of Real Estate Research, 13(1), 67–75. https://doi.org/10.1080/10835547.1997.12090868
  • Anenberg, E. (2011). Loss aversion, equity constraints and seller behavior in the real estate market. Regional Science and Urban Economics, 41(1), 67–76. https://doi.org/10.1016/j.regsciurbeco.2010.08.003
  • Benmelech, E., Guren, A., & Melzer, B. T. (2022). Making the house a home: The stimulative effect of home purchases on consumption and investment. The Review of Financial Studies, 36(1), 122–154. https://doi.org/10.1093/rfs/hhac041
  • Bian, X., Lin, Z., & Liu, Y. (2018). House price, loan-to-value ratio and credit risk. Journal of Banking & Finance, 92, 1–12. https://doi.org/10.1016/j.jbankfin.2018.04.006
  • Chan, S. (2001). Spatial lock-in: Do falling house prices constrain residential mobility? Journal of Urban Economics, 49(3), 567–586. https://doi.org/10.1006/juec.2000.2205
  • Chan, S., Dastrup, S., & Ellen, I. G. (2016). Do homeowners mark to market? A comparison of self-reported and estimated market home values during the housing boom and bust. Real Estate Economics, 44(3), 627–657. https://doi.org/10.1111/1540-6229.12103
  • Cheng, P., Lin, Z., & Liu, Y. (2020). Price discovery with heterogeneous sellers in real estate. Journal of Real Estate Research, 42(3), 341–364. https://doi.org/10.1080/08965803.2020.1840898
  • Choi, J. H., & Painter, G. (2018). Self-reported vs. market estimated house values: Are homeowners misinformed or are they purposely misreporting? Real Estate Economics, 46(2), 487–520. https://doi.org/10.1111/1540-6229.12199
  • Coulson, N. E. (2002). Housing policy and the social benefits of homeownership. Business Review, 2, 7–16.
  • Coulson, N. E., & Grieco, P. L. (2013). Mobility and mortgages: Evidence from the psid. Regional Science and Urban Economics, 43(1), 1–7. https://doi.org/10.1016/j.regsciurbeco.2012.10.004
  • Di, Z. X., Belsky, E., & Liu, X. (2007). Do homeowners achieve more household wealth in the long run? Journal of Housing Economics, 16(3-4), 274–290. https://doi.org/10.1016/j.jhe.2007.08.001
  • DiPasquale, D., & Glaeser, E. L. (1999). Incentives and social capital: Are homeowners better citizens? Journal of Urban Economics, 45(2), 354–384. https://doi.org/10.1006/juec.1998.2098
  • Engelhardt, G. V. (2003). Nominal loss aversion, housing equity constraints, and household mobility: Evidence from the United States. Journal of Urban Economics, 53(1), 171–195. https://doi.org/10.1016/S0094-1190(02)00511-9
  • Ferreira, F., Gyourko, J., & Tracy, J. (2010). Housing busts and household mobility. Journal of Urban Economics, 68(1), 34–45. https://doi.org/10.1016/j.jue.2009.10.007
  • Follain, J. R., & Malpezzi, S. (1980). Dissecting housing value and rent: Estimates of hedonic indexes for thirty-nine large SMSAs, volume 249. Urban Institute Press.
  • Frost, R. (2020). Are Americans stuck in place? Declining residential mobility in the US. Joint Center for Housing Studies. Harvard University.
  • Genesove, D., & Mayer, C. (2001). Loss aversion and seller behavior: Evidence from the housing market. The Quarterly Journal of Economics, 116(4), 1233–1260. https://doi.org/10.1162/003355301753265561
  • Goodman, J. (1993). A housing market matching model of the seasonality in geographic mobility. Journal of Real Estate Research, 8(1), 117–137. https://doi.org/10.1080/10835547.1993.12090696
  • Green, R. K., & Wachter, S. M. (2005). The American mortgage in historical and international context. Journal of Economic Perspectives, 19(4), 93–114. https://doi.org/10.1257/089533005775196660
  • Green, R. K., & White, M. J. (1997). Measuring the benefits of homeowning: Effects on children. Journal of Urban Economics, 41(3), 441–461. https://doi.org/10.1006/juec.1996.2010
  • Haurin, D. R., Parcel, T. L., & Haurin, R. J. (2002). Does homeownership affect child outcomes? Real Estate Economics, 30(4), 635–666. https://doi.org/10.1111/1540-6229.t01-2-00053
  • He, X., Lin, Z., Liu, Y., & Seiler, M. J. (2020). Search benefit in housing markets: An inverted u-shaped price and tom relation. Real Estate Economics, 48(3), 772–807. https://doi.org/10.1111/1540-6229.12221
  • Jasso, G. (1992). The panel study of income dynamics: A user’s guide.
  • Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 263–292. https://doi.org/10.2307/1914185
  • Kiel, K. A., & Zabel, J. E. (1997). Evaluating the usefulness of the American housing survey for creating house price indices. The Journal of Real Estate Finance and Economics, 14(1), 189–202. https://doi.org/10.1023/A:1007740622649
  • Malpezzi, S., et al. (2003). Hedonic pricing models: A selective and applied review. Housing Economics and Public Policy, 1, 67–89.
  • McQueen, M. (2010). The new rule of remodeling. The Wall Street Journal. https://www.wsj.com/articles/SB10001424052748703404004575198603552079406
  • Oswald, A. (1997). Thoughts on NAIRU. Journal of Economic Perspectives, 11, 227–228.
  • Oswald, A. J. (1996). A conjecture on the explanation for high unemployment in the industrialized nations: Part i. Technical report.
  • Rosenbaum, P. R., & Rubin, D. B. (1983). The central role of the propensity score in observational studies for causal effects. Biometrika, 70(1), 41–55. https://doi.org/10.1093/biomet/70.1.41
  • Rossi, P. H., & Weber, E. (1996). The social benefits of homeownership: Empirical evidence from national surveys. Housing Policy Debate, 7(1), 1–35. https://doi.org/10.1080/10511482.1996.9521212
  • Schulhofer-Wohl, S. (2011). Negative equity does not reduce homeowners’ mobility. Technical report, National Bureau of Economic Research.
  • Seiler, M. J. (2015a). Do as I say, not as I do: The role of advice versus actions in the decision to strategically default. Journal of Real Estate Research, 37(2), 191–216. https://doi.org/10.1080/10835547.2015.12091412
  • Seiler, M. J. (2015b). The role of informational uncertainty in the decision to strategically default. Journal of Housing Economics, 27, 49–59. https://doi.org/10.1016/j.jhe.2015.02.006
  • Seiler, M. J. (2018). Asymmetric dominance and its impact on mortgage default deficiency collection efforts. Real Estate Economics, 46(4), 971–990. https://doi.org/10.1111/1540-6229.12176
  • Stein, J. C. (1995). Prices and trading volume in the housing market: A model with down-payment effects. The Quarterly Journal of Economics, 110(2), 379–406. https://doi.org/10.2307/2118444
  • Timiraos, N., & Casselman, B. (2011). Housing imperils job gains. The Wall Street Journal. https://www.wsj.com/articles/SB10001424052970203479104577124360560884468
  • Turner, T. M., & Luea, H. (2009). Homeownership, wealth accumulation and income status. Journal of Housing Economics, 18(2), 104–114. https://doi.org/10.1016/j.jhe.2009.04.005

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.