Forced Sales and House Prices

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Forced Sales and House Prices

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dc.contributor.author Campbell, John Y.
dc.contributor.author Giglio, Stefano
dc.contributor.author Pathak, Parag
dc.date.accessioned 2012-11-08T17:48:03Z
dc.date.issued 2011
dc.identifier.citation Campbell, John Y., Stefano Giglio, and Parag Pathak. 2011. Forced sales and house prices. American Economic Review 101(5): 2108–2131. en_US
dc.identifier.issn 0002-8282 en_US
dc.identifier.uri http://nrs.harvard.edu/urn-3:HUL.InstRepos:9887623
dc.description.abstract This paper uses data on all house transactions in Massachusetts over the last 20 years to show that houses sold after foreclosure, or close in time to the death or bankruptcy of a seller, are sold at lower prices than other houses. Foreclosure discounts are on average at 27 percent of the value of a house. Moreover, foreclosures that take place within small local geographies of a house lower the price at which it is sold. Our preferred estimate is that a foreclosure at a distance of 0.05 miles lowers the price of a house by about 1 percent. en_US
dc.description.sponsorship Economics en_US
dc.language.iso en_US en_US
dc.publisher American Economic Association en_US
dc.relation.isversionof doi:10.1257/aer.101.5.2108 en_US
dc.relation.hasversion http://www.nber.org/papers/w14866 en_US
dash.license OAP
dc.subject personal finance en_US
dc.subject housing markets en_US
dc.subject housing supply en_US
dc.title Forced Sales and House Prices en_US
dc.type Journal Article en_US
dc.description.version Author's Original en_US
dc.relation.journal American Economic Review en_US
dash.depositing.author Campbell, John Y.
dc.date.available 2012-11-08T17:48:03Z

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  • FAS Scholarly Articles [7374]
    Peer reviewed scholarly articles from the Faculty of Arts and Sciences of Harvard University

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