Why do national trends in house prices spread more to some cities than to others? This paper proposes an explanation of house price contagion based on migration spillovers…
Since the mid-twentieth century, many American suburbs have transformed from lily white enclaves to multiracial milieus. How do advantaged families respond? With residential…
Following the rise and fall in the U.S. homeownership rate over the past two decades, considerable uncertainty exists about its future trajectory. This paper presents our…