Credit supply, homeownership and mortgage debt

被引：0
作者：
Taskin, Ahmet Ali [1 ,2 ]
Yaman, Firat [3 ,4 ]
机构：
[1] Inst Employment Res IAB, Nurnberg, Germany
[2] Univ Erlangen Nurnberg, Erlangen, Germany
[3] Off Commun Ofcom, London, England
[4] City Univ London, Dept Econ, London, England
来源：
JOURNAL OF HOUSING ECONOMICS | 2023年 / 61卷
关键词：
Banking deregulation; Banking deregulation Housing demand; Mortgage; Household debt; Credit supply; supply Homeownership; Household finance; CONSUMPTION; EXPANSION; PRICE; BOOM;
D O I：
10.1016/j.jhe.2023.101947
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We analyze the effect of credit supply on households' homeownership and home equity outcomes. Banking deregulation together with states' autonomy to limit deregulation provides an exogenous shift in credit supply which shows variation across states and time. We find that a shift from full to no regulation increases the probability of homeownership by one percentage point, and of having a mortgage by two percentage points, explaining up to 43% of the increase in homeownership and the share of households with mortgages. Mortgage debt increases by up to 20%. Household leverage and debt exposure measured as debt to income ratio increase slightly for households outside of MSAs.
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页数：15
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