Susan M. Wachter

TL;DR: The structure of the modern American mortgage has evolved over time as mentioned in this paper, and the U.S. mortgage provides many more options to borrowers than are commonly provided elsewhere: American homebuyers can choose whether to pay a fixed or variable rate of interest, they can lock in their interest rate in between thetime they apply for the mortgage and the time they purchase their house; they can

TL;DR: In this paper, the authors quantify the impact of mortgage underwriting criteria on individual homeownership propensities and determine whether a family is constrained by these criteria, the optimal home purchase price is estimated.

TL;DR: In this paper, the authors quantify the impact of mortgage underwriting criteria on individual homeownership propensities and determine whether a family is constrained by these criteria, the optimal home purchase price is estimated.

TL;DR: In this paper, the authors compared three models with several sets of property transaction data and found that the commonly used hedonic price model suffers from potential specification bias and inefficiency, while the weighted repeat-sales model presents potentially more serious bias problems.

TL;DR: In this paper, the authors analyzed the factors that affect the tenure choice of young adults, highlighting the impact of mortgage lender imposed borrowing constraints, and found ownership tendencies to be quite sensitive to economic variables Specifically, potential earnings, the relative cost of owning a home, and especially borrowing constraints affect the tendency to own a home.