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Mortgage Supply and Housing Rents

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dc.contributor.authorGete, Pedro
dc.contributor.authorReher, Michael
dc.contributor.funderMinisterio de Economía y Competitividad
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2024-10-24T10:31:09Z
dc.date.available2024-10-24T10:31:09Z
dc.date.issued2018-12
dc.description.abstractWe show that a contraction of mortgage supply after the Great Recession has increased housing rents. Our empirical strategy exploits heterogeneity in MSAs’ exposure to regulatory shocks experienced by lenders over the 2010–2014 period. Tighter lending standards have increased demand for rental housing, leading to higher rents, depressed homeownership rates and an increase in rental supply. Absent the credit supply contraction, annual rent growth would have been 2.1 percentage points lower over 2010–2014 in MSAs in which lending standards rose from their 2008 levels. Received December 21, 2016; editorial decision October 24, 2017 by Editor Philip Strahan. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.
dc.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationGete, P., & Reher, M. (2018). Mortgage supply and housing rents. The Review of Financial Studies, 31(12), 4884-4911. https://doi.org/10.1093/rfs/hhx145
dc.identifier.doihttps://doi.org/10.1093/rfs/hhx145
dc.identifier.issn1465-7368
dc.identifier.urihttps://hdl.handle.net/20.500.14417/3301
dc.issue.number12
dc.journal.titleThe Review of Financial Studies
dc.language.isoen
dc.page.final4911
dc.page.initial4884
dc.page.total27
dc.publisherOxford University Press
dc.relation.departmentFinance
dc.relation.entityIE University
dc.relation.projectIDECO2014-53022
dc.relation.schoolIE Business School
dc.rightsAttribution 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/deed.en
dc.subject.keywordMortgages
dc.titleMortgage Supply and Housing Rents
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/acceptedVersion
dc.volume.number31
dspace.entity.typePublication
relation.isAuthorOfPublication627e06b8-d61f-4611-96fe-15cf32670e9f
relation.isAuthorOfPublication.latestForDiscovery627e06b8-d61f-4611-96fe-15cf32670e9f
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