全球智库信息集成服务系统(G2TT): Credit Supply and Housing Speculation

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w24823
来源ID	Working Paper 24823
	Credit Supply and Housing Speculation
	Atif Mian; Amir Sufi
发表日期	2018-07-16
出版年	2018
语种	英语
摘要	Speculation is a critical channel through which credit supply expansion affects the housing cycle. The surge in private label mortgage securitization in 2003 fueled a large expansion in mortgage credit supply by lenders financed with non-core deposits. Areas more exposed to these lenders experienced a large relative rise in transaction volume driven by a small group of speculators, and these areas simultaneously witnessed an amplified housing boom and bust. Consistent with the importance of belief heterogeneity, house price growth expectations of marginal buyers rose during the boom, while housing market pessimism among the general population increased.
主题	Macroeconomics ; Money and Interest Rates ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Behavioral Finance ; Regional and Urban Economics ; Real Estate
URL	https://www.nber.org/papers/w24823
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/582497
推荐引用方式 GB/T 7714	Atif Mian,Amir Sufi. Credit Supply and Housing Speculation. 2018.