000			01186nam a22001457a 4500
999			_c517945 _d517945
008			210806b ||||| |||| 00| 0 eng d
100			_aFuster, Andreas Zafar, Basit _928287
245			_aThe sensitivity of housing demand to financing conditions: Evidence from a survey
260			_aAmerican Economic Journal: Economic Policy
300			_a13(1), Feb, 2021: p.231-265
520			_aMeasuring the sensitivity of housing demand to mortgage rates and available leverage is challenging because there is generally no exogenous variation in these variables. This paper circumvents this issue by designing a strategic survey in which respondents report their willingness to pay (WTP) for a home under different financing scenarios. Relaxation of down payment constraints or an exogenous increase in nonhousing wealth has large effects on WTP, especially for poorer and more credit-constrained households. However, changing the mortgage rate has only moderate effects on WTP. These findings have implications for theoretical models of house price determination and for policy. – Reproduced
773			_aAmerican Economic Journal: Economic Policy
906			_aHOUSING
942			_cAR