Credit supply, homeownership and mortgage debt

IF 1.4 3区经济学 Q3 ECONOMICS

Journal of Housing Economics Pub Date : 2023-09-01 DOI:10.1016/j.jhe.2023.101947

Ahmet Ali Taşkın , Fırat Yaman

引用次数: 0

Abstract

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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信贷供应、住房所有权和抵押贷款债务

我们分析了信贷供应对家庭住房所有权和住房净值结果的影响。银行业放松管制加上各州限制放松管制的自主权，提供了信贷供应的外生转变，显示出各州和时间的变化。我们发现，从完全监管到无监管的转变使拥有住房的概率增加了一个百分点，抵押贷款的概率增加两个百分点，这解释了拥有住房和抵押贷款家庭份额增加的43%。抵押贷款债务增加了20%。对于MSAs以外的家庭，以债务收入比衡量的家庭杠杆率和债务敞口略有增加。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Housing Economics Multiple-

CiteScore

3.30

自引率

4.20%

发文量

期刊介绍： The Journal of Housing Economics provides a focal point for the publication of economic research related to housing and encourages papers that bring to bear careful analytical technique on important housing-related questions. The journal covers the broad spectrum of topics and approaches that constitute housing economics, including analysis of important public policy issues.