Susan M. Wachter

University of Pennsylvania - Wharton School, Department of Real Estate

Co-director, Penn Institute for Urban Research (Penn IUR) and Albert Sussman Professor of Real Estate

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104-6330

United States

http://real.wharton.upenn.edu/~wachter/index.html

University of Pennsylvania - Finance Department

Professor

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

http://real.wharton.upenn.edu/~wachter/index.html

  • University of Pennsylvania - Wharton School, Department of Real Estate

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    • Tel: 215-898-6355

  • University of Pennsylvania - Finance Department

SCHOLARLY PAPERS

105

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35,178

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Top 1,804

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216

CROSSREF CITATIONS

510

Scholarly Papers (105)

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1.

Explaining the Housing Bubble

Georgetown Law Journal, Vol. 100, No. 4, pp. 1177-1258, University of Pennsylvania Institute for Law & Economics Research Paper No. 10-15, Georgetown Public Law Research Paper No. 10-60, Georgetown Law and Economics Research Paper No. 10-16
Number of pages: 82 Posted: 01 Sep 2010 Last Revised: 07 May 2015
Adam J. Levitin and Susan M. Wachter
Georgetown University Law Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 8,616 (785)
Citation 43

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housing bubble, securitization, mortgage, MBS, RMBS, CMBS, PLS, Fannie Mae, Freddie Mac, GSE, informational asymmetries, community reinvestment act, affordable housing goals, irrational exuberance, standardization, housing finance, real estate

2.

Securitization: Cause or Remedy of the Financial Crisis?

Georgetown Law and Economics Research Paper No. 1462895, U of Penn, Inst for Law & Econ Research Paper No. 09-31
Number of pages: 19 Posted: 28 Aug 2009 Last Revised: 16 May 2012
Adam J. Levitin, Andrey D. Pavlov and Susan M. Wachter
Georgetown University Law Center, Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 2,063 (9,042)
Citation 3

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securitization, mortgages, subprime, bubble, housing finance, MBS, mortgage-backed securities, credit default swaps, mispricing

3.

Systemic Risk through Securitization: The Result of Deregulation and Regulatory Failure

Connecticut Law Review, Vol. 41, p. 493, May 2009
Number of pages: 49 Posted: 26 Mar 2009 Last Revised: 16 May 2012
Patricia A. McCoy, Andrey D. Pavlov and Susan M. Wachter
Boston College Law School, Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 1,859 (10,703)
Citation 1

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Securitization, credit default swap, subprime, mortgage, asset bubble

4.

The Commercial Real Estate Bubble

Harvard Business Law Review, Vol. 3, pp. 83-118 (2013), Georgetown Law and Economics Research Paper No. 12-005, Georgetown Public Law Research Paper No. 12-018
Number of pages: 36 Posted: 16 Feb 2012 Last Revised: 17 Jul 2013
Adam J. Levitin and Susan M. Wachter
Georgetown University Law Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 1,381 (17,168)
Citation 6

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commercial real estate, CMBS, CDO, bubble, securitization, B-piece, Basel, rating agencies, capital requirements, residential real estate, housing, REMIC

5.

Inflation and Real Estate Investments

U of Penn, Inst for Law & Econ Research Paper No. 11-33
Number of pages: 23 Posted: 29 Nov 2011 Last Revised: 18 Aug 2016
Brad Case and Susan M. Wachter
Fannie Mae and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 1,253 (19,810)
Citation 14

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Property, securities, real estate investment trusts, REIT, REITs, hedge effectiveness, illiquid assets, portfolio allocation, Sharpe ratio, inflation protection, inflation sensitivity

6.

Subprime Lending and Real Estate Markets

U of Penn, Inst for Law & Econ Research Paper No. 08-35, MORTGAGE AND REAL ESTATE FINANCE, Stefania Perrucci, ed., Risk Books, 2008
Number of pages: 17 Posted: 24 Dec 2008
Susan M. Wachter, Andrey D. Pavlov and Zoltan Pozsar
University of Pennsylvania - Wharton School, Department of Real Estate, Simon Fraser University (SFU) - Finance Area and Credit Suisse
Downloads 997 (27,762)

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Real Property, real estate, realty, mortgages, housing prices, credit crunch, foreclosures, financial engineering, lending standards, housing market collapse, underpriced financing, interest only mortgages, negative amortization mortgages, leverage, cyclicality, housing bubble

7.

Bank Lending and Real Estate in Asia: Market Optimism and Asset Bubbles

Number of pages: 20 Posted: 04 Dec 2004
Winston T.H. Koh, Roberto S. Mariano, Andrey D. Pavlov, Sock Yong Phang, Augustine H.H. Tan and Susan M. Wachter
Singapore Management University - School of Social Sciences, Singapore Management University, Simon Fraser University (SFU) - Finance Area, Singapore Management University - School of Economics, Singapore Management University - School of Social Sciences and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 932 (30,569)
Citation 7

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Real estate bubble, lender optimism, disaster myopia, Asian financial crisis

8.

Real Estate Booms and Banking Busts: An International Perspective

Downloads 920 ( 31,140)
Citation 1

Real Estate Booms and Banking Busts: An International Perspective

The Wharton School Research Paper No. 99-27
Number of pages: 110 Posted: 09 Jan 2015
Richard J. Herring and Susan M. Wachter
University of Pennsylvania - Finance Department and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 920 (30,677)
Citation 1

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9.

State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms

Journal of Economics and Business, Vol. 60, p. 47, 2008
Number of pages: 47 Posted: 10 Aug 2007 Last Revised: 26 Oct 2012
Raphael W. Bostic, Kathleen C. Engel, Patricia A. McCoy, Anthony Pennington-Cross and Susan M. Wachter
Federal Reserve Bank of Atlanta, Suffolk University Law School, Boston College Law School, Marquette University - Dept. of Finance and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 871 (33,575)
Citation 17

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Subprime lending, enforcement mechanisms, predatory lending, anti-predatory lending laws, mortgage lending, homeownership

10.

The American Mortgage in Historical and International Context

Journal of Economic Perspectives, Vol. 19, No. 4, pp. 93-114, Fall 2005, U of Penn, Inst for Law & Econ Research Paper No. 06-12
Number of pages: 23 Posted: 14 Jun 2006
Richard K. Green and Susan M. Wachter
University of Southern California - Lusk Center for Real Estate and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 781 (39,012)
Citation 18

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home mortgages, mortgage debt, historical evolution of U.S. mortgage structure

11.

Subprime Lending and Real Estate Prices

Downloads 778 ( 39,219)
Citation 40

Subprime Lending and Real Estate Prices

Real Estate Economics, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 09-36
Number of pages: 32 Posted: 19 Oct 2009
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 775 (38,870)
Citation 1

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housing, real property, mortgages, house prices, interest only loans, negative amortization, aggressive lending instruments, innovation, financial deregulation, empirical, underpriced credit, asset price inflation, market bubbles

Subprime Lending and Real Estate Prices

Real Estate Economics, Vol. 39, Issue 1, pp. 1-17, 2011
Number of pages: 17 Posted: 14 Mar 2011
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 3 (788,461)
Citation 4
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Subprime Lending and Real Estate Prices

Real Estate Economics, Vol. 39, 2010
Posted: 23 Aug 2010 Last Revised: 16 May 2012
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate

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Subprime Lending, Aggressive Lending, Mortgage Crisis

12.

REITS and Underlying Real Estate Markets: Is There a Link?

U of Penn, Inst for Law & Econ Research Paper No. 11-20
Number of pages: 71 Posted: 07 Jul 2011
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 749 (41,310)
Citation 9

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property price index, real estate investment trusts, real estate returns, commercial real estate, property prices, local agglomeration effects, closed-end mutual fund

13.

The Housing Finance Revolution

U of Penn, Inst for Law & Econ Research Paper No. 09-37
Number of pages: 32 Posted: 22 Oct 2009
Richard K. Green and Susan M. Wachter
University of Southern California - Lusk Center for Real Estate and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 745 (41,612)
Citation 9

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Real estate, mortgages, housing, capital markets, securitization, mortgage security infrastructure, liquidity, subprime mortgage-backed securities, MBS, marked to model, systemic underpricing of risk, speculation, pricing of risks, default risk, underpriced credit

14.

Why Housing?

Housing Policy Debate, Vol. 23, pp. 5-27 (2013), U of Penn, Inst for Law & Econ Research Paper No. 12-28, Georgetown Law and Economics Research Paper No. 12-035, Georgetown Public Law Research Paper No. 12-127
Number of pages: 24 Posted: 22 Aug 2012 Last Revised: 17 Jul 2013
Adam J. Levitin and Susan M. Wachter
Georgetown University Law Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 602 (55,144)
Citation 5

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bubble, mortgage, housing, interest rates, securitization, agency, CDO

15.

The Neighborhood Distribution of Subprime Mortgage Lending

Downloads 535 ( 63,890)
Citation 20

The Neighborhood Distribution of Subprime Mortgage Lending

Number of pages: 32 Posted: 12 Dec 2003
Paul S. Calem, Kevin Gillen and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Pennsylvania, Wharton and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 535 (63,197)
Citation 20

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Subprime lending, mortgage market, low-income households, minority households, mortgage lending patterns

The Neighborhood Distribution of Subprime Mortgage Lending

Posted: 10 Feb 2004
Paul S. Calem, Kevin Gillen and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Pennsylvania, Wharton and University of Pennsylvania - Wharton School, Department of Real Estate

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16.

Information Failure and the U.S. Mortgage Crisis

In THE AMERICAN MORTGAGE SYSTEM: RETHINK AND REFORM, Susan Wachter and Marty Smith, eds., University of Pennsylvania Press, Forthcoming , University of Pennsylvania Institute for Law & Economics Research Paper No. 10-19
Number of pages: 40 Posted: 06 Oct 2010 Last Revised: 28 Nov 2012
Adam J. Levitin and Susan M. Wachter
Georgetown University Law Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 500 (69,603)
Citation 1

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Credit Crunch, Financial Crisis, Mortgage Pools, Rating Agencies, Subprime Mortgage Credit, Asset Bubbles, Open Information, Transparency, MBS, Informationally Shrouded Mortgages, Default Risk, Securitization, Standardization

17.

Neighborhood Patterns of Subprime Lending: Evidence from Disparate Cities

Number of pages: 31 Posted: 02 Sep 2004
Paul S. Calem, Jonathan E. Hershaff and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 474 (74,226)
Citation 7

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Subprime mortgages, Mortgage lending and race, Mortgage lending and neighborhood

18.

Subprime Lending and House Price Volatility

U of Penn, Inst for Law & Econ Research Paper No. 08-33
Number of pages: 29 Posted: 22 Dec 2008 Last Revised: 16 May 2012
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 423 (85,055)
Citation 9

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Real Property, real estate, realty, mortgages, housing prices, aggressive lending, interest only mortgages, negative amortization mortgages, leverage, real estate cycle, housing bubble, price peaks, price declines, negative demand shock

19.

Underpriced Lending and Real Estate Markets

Number of pages: 26 Posted: 15 Apr 2007
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 412 (87,647)
Citation 5

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real estate bubble, lender optimism, disaster myopia, Asian financial crisis

20.

Do Cities and Suburbs Cluster?

Number of pages: 12 Posted: 05 Apr 1999
William N. Goetzmann, Matthew I. Spiegel and Susan M. Wachter
Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 398 (91,245)
Citation 1

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21.

The Dodd-Frank Act and Housing Finance: Can It Restore Private Risk Capital to the Securitization Market?

Yale Journal on Regulation, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 11-35, Georgetown Law and Economics Research Paper No. 11-32
Number of pages: 27 Posted: 10 Dec 2011 Last Revised: 15 May 2012
Adam J. Levitin, Andrey D. Pavlov and Susan M. Wachter
Georgetown University Law Center, Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 396 (91,784)
Citation 3

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Real estate, mortgages, financial regulation, reform, Dodd-Frank Act, mortgage-backed securities, lending models, credit risk information, securitized assets, information shrouding, underpricing, standardization, information asymmetry, risk pricing

22.

Immigration and the Neighborhood

FRB of Philadelphia Working Paper No. 06-22, IZA Discussion Paper No. 2503
Number of pages: 60 Posted: 21 Sep 2006
Albert Saiz and Susan M. Wachter
MIT Department of Urban Studies and Planning and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 385 (94,825)
Citation 37

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Immigration, housing prices

23.

Systemic Risk and Market Institutions

Yale Journal on Regulation, Vol. 26, No. 2, 2009, University of Pennsylvania, Institute for Law & Economics Research Paper No. 09-26
Number of pages: 15 Posted: 27 Aug 2009
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 324 (115,128)
Citation 4

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Real estate, mortgages, housing, mortgage-backed securities, pricing of risks, default risk, incentive misalignments, underpriced credit, asset price inflation, market bubbles

24.

Subprime Lending: Neighborhood Patterns Over Time in Us Cities

U of Penn, Inst for Law & Econ Research Paper No. 06-19
Number of pages: 32 Posted: 31 Jul 2006
Susan M. Wachter, Karl Russo and Jonathan E. Hershaff
University of Pennsylvania - Wharton School, Department of Real Estate, University of Pennsylvania - The Wharton School and Board of Governors of the Federal Reserve System
Downloads 323 (115,508)
Citation 5

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subprime lending patterns, high credit risk, high borrowing costs, low income, minority, nationwide study, Hispanic, education, income

25.

Explaining the United States' Uniquely Bad Housing Market

Wharton Real Estate Review, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 08-34
Number of pages: 29 Posted: 26 Dec 2008
Jesse M. Abraham, Andrey D. Pavlov and Susan M. Wachter
affiliation not provided to SSRN, Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 317 (117,788)

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Real Property, real estate, realty, mortgages, housing prices, aggressive lending, credit expansion, lending standards, leverage, real estate cycle, housing bubble, housing market declines

26.

Mortgage Product Substitution and State Anti-Predatory Lending Laws: Better Loans and Better Borrowers?

Atlantic Economic Journal, Vol. 40, p. 273, 2012, U of Penn, Inst for Law & Econ Research Paper No. 09-27, Suffolk University Law School Research Paper No. 09-44
Number of pages: 51 Posted: 26 Aug 2009 Last Revised: 24 Oct 2012
Raphael W. Bostic, Souphala Chomsisengphet, Kathleen C. Engel, Patricia A. McCoy, Anthony Pennington-Cross and Susan M. Wachter
Federal Reserve Bank of Atlanta, Office of the Comptroller of the Currency (OCC), Suffolk University Law School, Boston College Law School, Marquette University - Dept. of Finance and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 312 (119,827)
Citation 14

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Real estate, mortgages, housing, abusive lending, predatory lending, mortgage products, product substitution, adjustment to prohibition

27.

Urban Governance and Development of Informality in China and India

Informal Real Estate Markets, Eugenie Birch, Shahana Chattaraj and Susan Wachter, eds, University of Pennsylvania Press, Forthcoming
Number of pages: 27 Posted: 21 Aug 2014 Last Revised: 09 Sep 2014
Arthur Acolin, Shahana Chattaraj and Susan M. Wachter
University of Washington - College of Built Environments, University of Pennsylvania and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 310 (120,623)

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Urbanization; China; India; Urban Governance; Informal Markets; Comparative Urban Development

28.

The Inevitability of Market-Wide Underpricing of Mortgage Default Risk

Real Estate Economics, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 06-14
Number of pages: 34 Posted: 23 Jun 2006
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 305 (122,784)
Citation 1

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mortgage underpricing, mortgage default

29.

Does Credit Quality Matter for Homeownership?

Number of pages: 32 Posted: 14 Dec 2003
Irina Barakova, Raphael W. Bostic, Paul S. Calem and Susan M. Wachter
Government of the United States of America - Office of the Comptroller of the Currency (OCC), Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 285 (131,884)
Citation 12

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Credit quality, homeownership, barriers to homeownership, household credit rating, financial constraints and homeownership

30.

The Option Value of Non-Recourse Lending and Inflated Asset Prices

Number of pages: 35 Posted: 13 Mar 2002
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 283 (132,822)
Citation 4

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31.

The Housing and Credit Bubbles in the US and Europe: A Comparison

Number of pages: 10 Posted: 11 Oct 2014 Last Revised: 15 Oct 2014
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 263 (143,268)
Citation 1

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32.

The Ongoing Financial Upheaval: Understanding the Sources and Way Out

U of Penn, Inst for Law & Econ Research Paper No. 09-30
Number of pages: 18 Posted: 31 Aug 2009
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 262 (143,841)
Citation 1

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Real estate, mortgages, housing, speculation, foreclosure, mortgage-backed securities, MBS, pricing of risks, default risk, incentive misalignments, underpriced credit, asset price inflation, market bubbles

33.

The Public Option in Housing Finance

46:4 UC Davis Law Review 1111-1173 (2013), U of Penn, Inst for Law & Econ Research Paper 11-34, Georgetown Public Law Research Paper No. 1966550, Georgetown Law and Economics Research Paper No. 1966550
Number of pages: 63 Posted: 13 Dec 2011 Last Revised: 19 May 2015
Adam J. Levitin and Susan M. Wachter
Georgetown University Law Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 261 (144,379)
Citation 2

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Real estate, mortgage, housing market, housing finance regulation, financial regulation, government intervention, government sponsored enterprises, public good, mortgage-backed securities, securitization, Great Depression, New Deal, HOLC, Fannie Mae, FHA, Freddie Mac, Dodd-Frank Act

34.

Mortgage Risk Premiums during the Housing Bubble

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 51 Posted: 12 Dec 2017 Last Revised: 23 Oct 2020
Adam J. Levitin, Desen Lin and Susan M. Wachter
Georgetown University Law Center, Cal State Fullerton and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 259 (145,496)
Citation 3

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housing bubble, risk premium, securitization, private-label

35.

Second-Liens and the Leverage Option

Vanderbilt Law Review, Vol. 68, 2015, U of Penn, Inst for Law & Econ Research Paper No. 15-13
Number of pages: 45 Posted: 30 Jan 2015 Last Revised: 26 Mar 2015
Adam J. Levitin and Susan M. Wachter
Georgetown University Law Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 256 (147,194)
Citation 7

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second-lien, junior mortgage, leverage, loan-to-value, LTV, CLTV, embedded option

36.

Underpriced Default Spread Exacerbates Market Crashes

U of Penn, Inst for Law & Econ Research Paper No. 06-13
Number of pages: 34 Posted: 23 Jun 2006
Winston T.H. Koh, Roberto S. Mariano, Andrey D. Pavlov, Sock Yong Phang, Augustine H.H. Tan and Susan M. Wachter
Singapore Management University - School of Social Sciences, Singapore Management University, Simon Fraser University (SFU) - Finance Area, Singapore Management University - School of Economics, Singapore Management University - School of Social Sciences and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 253 (148,926)
Citation 3

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real estate bubble, lender optimism, disaster myopia, Asian financial crisis

37.

Sustainable Homeownership

Number of pages: 29 Posted: 22 Mar 2009
Paul S. Calem, Susan M. Wachter and Marsha Courchane
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Pennsylvania - Wharton School, Department of Real Estate and Charles River Associates (CRA)
Downloads 246 (153,100)
Citation 2

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Homeownership, Mortgage Lending, Subprime Lending

38.

What is a Tree Worth? Green-City Strategies and Housing Prices

Downloads 215 (174,157)
Citation 2

What is a Tree Worth? Green-City Strategies and Housing Prices

Real Estate Economics, Vol. 36, No. 2, 2008
Number of pages: 30 Posted: 17 Jan 2008
Susan M. Wachter and Grace Wong Bucchianeri
University of Pennsylvania - Wharton School, Department of Real Estate and University of Pennsylvania - Real Estate Department
Downloads 179 (205,719)
Citation 1

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Housing price, social capital, signaling, tree planting

What is a Tree Worth? Green-City Strategies and Housing Prices

Number of pages: 30 Posted: 03 Jul 2011
Grace Wong Bucchianeri and Susan M. Wachter
University of Pennsylvania - Real Estate Department and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 36 (543,202)

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Housing price, Social capital, Signaling, Tree planting

39.

Representations and Warranties: Why They Did Not Stop the Crisis

Evidence and Innovation in Housing Law and Policy (L. Fennell & B. Keys, eds., Cambridge University Press, 2017 Forthcoming), Boston College Law School Legal Studies Research Paper No. 402
Number of pages: 46 Posted: 02 Jun 2016 Last Revised: 08 Jul 2016
Patricia A. McCoy and Susan M. Wachter
Boston College Law School and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 211 (177,242)
Citation 2

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Representations and warranties; put-back claims; buyback claims; repurchase claims; access to credit; procyclicality

40.

Borrowing Constraints and Homeownership

American Economic Review, Vol. 106, No. 5, pp. 625-629, 2016
Number of pages: 9 Posted: 22 Jan 2016 Last Revised: 03 Aug 2016
Arthur Acolin, Jesse Bricker, Paul S. Calem and Susan M. Wachter
University of Washington - College of Built Environments, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 208 (179,675)
Citation 9

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borrowing constraints, homeownership, credit supply

41.

The Role of Speculation in Real Estate Cycles

Number of pages: 44 Posted: 27 Mar 2015
Stephen Malpezzi and Susan M. Wachter
University of Wisconsin at Madison and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 203 (183,737)
Citation 36

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Cycles, Speculation, Asset Pricing, Expectations

42.

A Renter or Homeowner Nation?

Cityscape, Forthcoming
Number of pages: 16 Posted: 22 Jan 2016 Last Revised: 11 Feb 2016
Arthur Acolin, Laurie S. Goodman and Susan M. Wachter
University of Washington - College of Built Environments, The Urban Institute - Housing Finance Policy Center and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 196 (189,797)
Citation 2

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Homeownership Rate, Future Housing Demand, America 2050

43.

Real Estate Prices in Beijing, 1644 to 1840

Explorations in Economic History, Forthcoming
Number of pages: 54 Posted: 16 Nov 2012 Last Revised: 05 Dec 2012
Daniel M. G. Raff, Susan M. Wachter and Se Yan
University of Pennsylvania - Management Department, University of Pennsylvania - Wharton School, Department of Real Estate and Peking University - Guanghua School of Management
Downloads 192 (193,312)
Citation 1

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Historic House Price Index, China Housing Market, Long Term House Price Index

44.

The Consequences of REIT Index Membership for Return Patterns

Downloads 187 (197,942)
Citation 1

The Consequences of REIT Index Membership for Return Patterns

Number of pages: 40 Posted: 20 Sep 2016 Last Revised: 04 Oct 2016
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 187 (197,883)

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Real Estate, Investment, Index Membership, REITs

The Consequences of REIT Index Membership for Return Patterns

Real Estate Economics, Vol. 46, Issue 1, pp. 210-250, 2018
Number of pages: 41 Posted: 21 Feb 2018
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
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45.

Flood Risk and the U.S. Housing Market

Number of pages: 45 Posted: 31 Jul 2019
Howard Kunreuther, Susan M. Wachter, Carolyn Kousky and Michael LaCour-Little
University of Pennsylvania - Wharton Risk Management and Decision Processes Center, University of Pennsylvania - Wharton School, Department of Real Estate, University of Pennsylvania and Federal National Mortgage Association (Fannie Mae)
Downloads 184 (200,763)
Citation 3

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flood risk, housing market, insurance

46.

Land Use Regulation, Regulatory Spillover and Housing Prices

Number of pages: 33 Posted: 17 May 2019 Last Revised: 02 Oct 2020
Desen Lin and Susan M. Wachter
Cal State Fullerton and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 170 (214,984)
Citation 1

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housing prices, land use regulation, spillover effect, California

47.

The Market Structure of Securitisation and the US Housing Bubble

Number of pages: 24 Posted: 11 Oct 2014 Last Revised: 08 May 2015
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 158 (228,743)
Citation 3

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mortgage securitisation, credit risk, housing bubble, housing finance

48.

The Public Interest in Consumer and Mortgage Credit Markets

University of Pennsylvania Institute for Law & Economic Research Paper No. 10-05
Number of pages: 34 Posted: 01 Apr 2010
Eric S. Belsky and Susan M. Wachter
Harvard University and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 155 (232,428)

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Banking and Finance, Law and Economics, Credit Market Regulation, Externalities, Equal Access to Credit, Asymmetric Information, Principle-Agent Problems, Market Structure, Securitization, Mortgage Credit Crunch, Loan Quality and Pricing Information

49.

Credit Risk, Informed Markets, and Securitization

Number of pages: 23 Posted: 12 Jan 2018
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 142 (249,719)
Citation 1

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MBS, CRT, Credit Risk Transfer, Securitization, Financial Crisis, Recession

50.

The Impacts of Borrowing Constraints on Homeownership

The American Real Estate and Urban Economics Association (AREUEA), Reprinted from Journal of the American Real Estate and Urban Economics Association, Vol. 17, No. 4, pp. 389-402, Winter 1989
Number of pages: 15 Posted: 22 Dec 2009
Peter Linneman and Susan M. Wachter
University of Pennsylvania - Real Estate Department and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 141 (251,123)
Citation 10

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Economics, Economic Development and Real Estate, Housing and Community Development

51.

Credit Risk Transfer, Informed Markets, and Securitization

Economic Policy Review, Vol. 24, No. 3, 2018
Number of pages: 21 Posted: 10 Dec 2018
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 136 (258,415)
Citation 5

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credit risk transfer; securitization; GSEs; transparency; market efficiency

52.

The Affordability Challenge: Inclusionary Housing and Community Land Trusts in a Federal System

Value Capture and Land Policies, Gregory K. Ingram and Yu-Hung Hong, eds., Lincoln Institute of Land Policy, 2012
Number of pages: 33 Posted: 29 Nov 2012
Richard Voith and Susan M. Wachter
Econsult Corporation and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 134 (261,282)

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Housing Affordability, Inclusionary Zoning, Community Land Trusts

53.

Misaligned Incentives and Mortgage Lending in Asia

U of Penn, Inst for Law & Econ Research Paper No. 08-27
Number of pages: 33 Posted: 22 Oct 2008 Last Revised: 04 Sep 2013
Richard K. Green, Roberto S. Mariano, Andrey D. Pavlov and Susan M. Wachter
University of Southern California - Lusk Center for Real Estate, Singapore Management University, Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 127 (272,035)
Citation 2

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real estate, mortgage securitization, banking, instability, mortgage-backed securities, MBS markets, Asia

54.

Endowments and Minority Homeownership

Cityscape, Forthcoming
Number of pages: 65 Posted: 26 Nov 2018
Arthur Acolin, Desen Lin and Susan M. Wachter
University of Washington - College of Built Environments, Cal State Fullerton and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 107 (307,423)

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homeownership, race, permanent income, Fair Housing Act

55.

Borrowing Constraints and Homeownership Over the Recent Cycle

Number of pages: 27 Posted: 14 Mar 2016
Arthur Acolin, Jesse Bricker, Paul S. Calem and Susan M. Wachter
University of Washington - College of Built Environments, Board of Governors of the Federal Reserve System, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 106 (309,400)
Citation 4

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borrowing constraints, homeownership, credit supply

56.

Repeat Sales House Price Index Methodology

Number of pages: 25 Posted: 25 Jun 2014
Chaitra Nagaraja, Lawrence D. Brown and Susan M. Wachter
Fordham University - Gabelli School of Business, University of Pennsylvania - The Wharton School and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 106 (309,400)
Citation 11

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57.

The Performance of New Private-Label Mortgage Loan Modifications after 2009

Number of pages: 54 Posted: 06 Jul 2012
Arthur Acolin, Ren S. Essene, Min Hwang, Jacob Liebschutz, Patricia A. McCoy, Jessica Russell and Susan M. Wachter
University of Washington - College of Built Environments, Independent, George Washington University - Department of Finance, Harvard University - Harvard Kennedy School (HKS), Boston College Law School, Independent and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 105 (311,337)
Citation 1

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mortgage, loan modification

58.

Credit Impairment and Housing Tenure Choice

U of Penn, Inst for Law & Econ Research Paper No. 08-31
Number of pages: 43 Posted: 02 Dec 2008
Paul S. Calem, Simon Firestone and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Board of Governors of the Federal Reserve System and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 105 (311,337)

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real estate, housing, barriers to homeownership, underwriting standards, credit history, low-income homeownership, choice of property tenure, property forms

59.

Credit Supply and Housing Prices in National and Local Markets

Number of pages: 18 Posted: 11 Oct 2014 Last Revised: 23 May 2015
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 97 (328,038)

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Real estate economics; Housing economics; Systemic risk

60.

Implications of the Housing Market Bubble for Sustainable Homeownership

THE AMERICAN MORTGAGE SYSTEM: RETHINK AND REFORM, Susan Wachter and Marty Smith, eds., University of Pennsylvania Press, Forthcoming, U of Penn, Inst for Law & Econ Research Paper No. 10-27
Number of pages: 33 Posted: 03 Nov 2010
Paul S. Calem, Leonard I. Nakamura and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 91 (341,564)

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Mortgage, High Risk Mortgage, High Risk Lending, Securitization, Risk Transfer, Housing Bubble

61.

Price Discovery in the Credit Markets

Number of pages: 21 Posted: 08 Dec 2017 Last Revised: 11 Dec 2017
Andrey D. Pavlov, Eduardo S. Schwartz and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Simon Fraser University (SFU) and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 80 (369,344)
Citation 3

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Credit Insurance, Credit Default Swaps, Price Discovery

62.

Mortgage Default Option Mispricing and Procyclicality

Number of pages: 32 Posted: 21 Jun 2013 Last Revised: 31 Oct 2013
Andrew Davidson, Alex Levin and Susan M. Wachter
Andrew Davidson and Co., Inc., Andrew Davidson and Co., Inc. and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 80 (369,344)
Citation 3

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Mortgage, Default, Option, Mispricing, Procyclicality

63.

Price Revelation and Efficient Mortgage Markets

Number of pages: 7 Posted: 02 Dec 2009
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 76 (380,349)
Citation 3

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64.

Why Cyclicality Matters to Access to Mortgage Credit

Boston College Journal of Law and Social Justice, Vol. XVII, Forthcoming, Boston College Law School Legal Studies Research Paper No. 440
Number of pages: 43 Posted: 04 Jan 2017 Last Revised: 10 Mar 2017
Patricia A. McCoy and Susan M. Wachter
Boston College Law School and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 75 (383,282)

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Countercyclical Regulation, Housing Bubbles, Credit Bubbles, Access to Mortgage Credit

65.

Homeownership Counseling Performance: How Can it Be Measured?

Housing Policy Debate, Vol. 7, No. 1, 1996
Number of pages: 26 Posted: 02 Mar 2010
Roberto Quercia and Susan M. Wachter
University of North Carolina (UNC) at Chapel Hill - Department of City and Regional Planning and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 74 (386,117)
Citation 1

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Homeownership, Low-income housing, Programs

66.

Why are Aggressive Mortgage Products Bad for the Housing Market?

Number of pages: 35 Posted: 28 Mar 2016
Andrew Davidson, Alex Levin, Andrey D. Pavlov and Susan M. Wachter
Andrew Davidson and Co., Inc., Andrew Davidson and Co., Inc., Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 66 (410,747)
Citation 1

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67.

Race and Policy: 50 Years after the Fair Housing Act

Penn IUR Brief APRIL 2019
Number of pages: 25 Posted: 17 May 2019
Vincent Reina and Susan M. Wachter
University of Pennsylvania and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 65 (413,960)

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Fair Housing Act, Housing Access, Housing Segregation, Housing Discrimination

68.

Borrowing Constraints and the Tenure Choice of Young Households

NBER Working Paper No. w5630
Number of pages: 30 Posted: 13 Apr 1998 Last Revised: 22 May 2021
Donald R. Haurin, Patric H. Hendershott and Susan M. Wachter
Ohio State University (OSU) - Economics, University of Aberdeen - Centre for Property Research and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 62 (424,005)
Citation 1

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69.

Borrowing Constraints during the Housing Bubble

Number of pages: 29 Posted: 07 Mar 2013 Last Revised: 21 Dec 2013
Irina Barakova, Paul S. Calem and Susan M. Wachter
Government of the United States of America - Office of the Comptroller of the Currency (OCC), Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 60 (430,965)
Citation 1

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tenure choice, borrowing constraint, credit constraint, mortgage supply, homeownership, credit bubble

70.

Why the Ability-to-Repay Rule is Vital to Financial Stability

Boston College Law School Legal Studies Research Paper No. 510, Georgetown Law Journal, Vol. 108, No. 3, p. 649, March 2020
Number of pages: 66 Posted: 05 Sep 2019 Last Revised: 10 Jun 2020
Patricia A. McCoy and Susan M. Wachter
Boston College Law School and University of Pennsylvania - Wharton School, Department of Real Estate
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financial stability, systemic risk, housing bubbles, ability-to-repay rule, mortgages, Dodd-Frank Act, sectoral tools

71.

Coalescence in the Housing Finance Reform Debate?

6 Penn Wharton Public Policy Initiative Issue Brief No. 4, June 2016
Number of pages: 8 Posted: 14 Jul 2016 Last Revised: 02 Aug 2016
Susan M. Wachter and Patricia A. McCoy
University of Pennsylvania - Wharton School, Department of Real Estate and Boston College Law School
Downloads 55 (449,130)

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Housing finance reform, Government Sponsored Entities

72.

Pricing Mortgage Stress. Lessons from Hurricanes and the Credit Risk Transfers.

Number of pages: 63 Posted: 22 Jun 2020 Last Revised: 11 May 2021
Pedro Gete, Athena Tsouderou and Susan M. Wachter
IE Business School, IE Business School and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 52 (460,357)

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Climate Risk, CRT, Credit Risk, GSEs, Hurricanes, Mortgages.

73.

Racial and Ethnic Disparities in Homeownership

Housing Policy Debate, Vol. 3, No. 2, 1992
Number of pages: 34 Posted: 19 Aug 2018 Last Revised: 22 Aug 2018
Susan M. Wachter and Isaac F. Megbolugbe
University of Pennsylvania - Wharton School, Department of Real Estate and Johns Hopkins University - W.P. Corey Business School
Downloads 52 (460,357)
Citation 6

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Homeownership, Race, Ethnicity

74.

Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation

Downloads 52 (460,357)

Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation

NBER Working Paper No. w5070
Number of pages: 59 Posted: 11 Jun 2000 Last Revised: 10 May 2021
Donald R. Haurin, Susan M. Wachter and Patric H. Hendershott
Ohio State University (OSU) - Economics, University of Pennsylvania - Wharton School, Department of Real Estate and University of Aberdeen - Centre for Property Research
Downloads 52 (468,063)
Citation 1

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Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation

J. OF HOUSING RESEARCH
Posted: 13 Sep 1996
Donald R. Haurin, Patric H. Hendershott and Susan M. Wachter
Ohio State University (OSU) - Economics, University of Aberdeen - Centre for Property Research and University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

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75.

'Credit Risk Transfer and the Sustainability of Housing Finance':

Number of pages: 6 Posted: 14 Dec 2017
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 49 (472,293)

Abstract:

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76.

Expected Home Ownership and Real Wealth Accumulation of Youth

NBER Working Paper No. w5629
Number of pages: 29 Posted: 23 Apr 1998 Last Revised: 22 May 2012
Donald R. Haurin, Susan M. Wachter and Patric H. Hendershott
Ohio State University (OSU) - Economics, University of Pennsylvania - Wharton School, Department of Real Estate and University of Aberdeen - Centre for Property Research
Downloads 46 (484,696)

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77.

Global Food Prices and Domestic Inflation: Some Cross-Country Evidence

IMF Working Paper No. 15/133
Number of pages: 35 Posted: 21 Jul 2015
Davide Furceri, Prakash Loungani, John A. Simon and Susan M. Wachter
International Monetary Fund (IMF), International Monetary Fund (IMF), Reserve Bank of Australia - Economic Research and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 45 (489,049)
Citation 1

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Food prices, External shocks, Inflation, Developed countries, Emerging markets, Cross country analysis, pass-through, economies, food price inflation, advanced economies, monetary policy, money, consumption, inflation expectations, domestic inflation

78.

Transparency in the Mortgage Market

Number of pages: 26 Posted: 18 Nov 2016
Andrey Pavlov, Susan M. Wachter and Albert Zevelev
Independent, University of Pennsylvania - Wharton School, Department of Real Estate and Independent
Downloads 44 (493,476)
Citation 2

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mortgage market, mortgage, transparency, transparent, mortgage lending

79.

The Macroprudential Implications of the Qualified Mortgage Debate

83 Journal of Law and Contemporary Problems 21 (2020)
Number of pages: 27 Posted: 23 Sep 2019 Last Revised: 17 Mar 2020
Patricia A. McCoy and Susan M. Wachter
Boston College Law School and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 43 (497,879)

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housing bubble, systemic risk, qualified mortgage, access to credit

80.

Real Estate and the Great Crisis: Lessons for Macro-Prudential Policy

Number of pages: 21 Posted: 05 Jul 2017
John V. Duca, Lilit Popoyan and Susan M. Wachter
Oberlin College, Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM) and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 38 (521,095)
Citation 1

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Macro-prudential policy, financial crises, credit crunches, real estate bubbles, regulatory arbitrage, risk-taking

81.

First-Time Homebuyers: Toward a New Measure

FRB of Philadelphia Working Paper No. 17-36
Number of pages: 17 Posted: 24 Oct 2017
Arthur Acolin, Paul S. Calem, Julapa Jagtiani and Susan M. Wachter
University of Washington - College of Built Environments, Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 29 (568,698)
Citation 2

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first-time homebuyer, homeownership, credit access, housing market trends

82.

Analyzing the Relationships Among Race, Wealth, and Home Ownership in America

Journal of Housing Economics, Vol. 8, 1999
Number of pages: 27 Posted: 09 Jan 2018
Joseph Gyourko, Peter Linneman and Susan M. Wachter
University of Pennsylvania - Real Estate Department, University of Pennsylvania - Real Estate Department and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 28 (574,788)
Citation 2

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83.

The Impact of State Antipredatory Lending Laws: Policy Implications and Insights

BORROWING TO LIVE: CONSUMER AND MORTGAGE CREDIT REVISITED, Joint Center for Housing Studies, Harvard University and Brookings Institution Press, 2008, 3rd Annual Conference on Empirical Legal Studies Papers
Number of pages: 41 Posted: 03 Apr 2008 Last Revised: 25 Oct 2012
Raphael W. Bostic, Patricia A. McCoy, Anthony Pennington-Cross, Susan M. Wachter and Kathleen C. Engel
Federal Reserve Bank of Atlanta, Boston College Law School, Marquette University - Dept. of Finance, University of Pennsylvania - Wharton School, Department of Real Estate and Suffolk University Law School
Downloads 27 (580,868)
Citation 1

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subprime, lending regulations, mortgages, predatory lending

84.

REIT Capital Structure Choices: When Does Preparation Matter?

Number of pages: 47 Posted: 21 Apr 2021
Desen Lin, Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Cal State Fullerton, Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 25 (593,640)

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Real estate investment, leverage, financial crisis

85.

Cities with Affordable Housing: Fulfilling the New Urban Agenda

Number of pages: 33 Posted: 16 Oct 2020
Kyung-Hwan Kim and Susan M. Wachter
School of Economics, Sogang University and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 22 (613,731)

Abstract:

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Housing, SDGs, Housing Finance, Development

86.

'Mortgage Lending and Systemic Crises: Defending Macro-Stability'

Number of pages: 5 Posted: 27 Jun 2019
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 20 (627,412)

Abstract:

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CRT, Credit Risk, GSE, Fannie Mae, Freddie Mac, Mortgage

87.

1968 Congressional FHA Amendments to the National Housing Act: Their Impact on Urban Areas

The Urban Impact of Federal Policies, 1980
Number of pages: 13 Posted: 24 Jul 2019
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 13 (677,899)

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FHA, Housing, Real Estate, Urban Policy, Cities

88.

Redlining and Public Policy

Redlining and Public Policy, 1980
Number of pages: 8 Posted: 22 Jul 2019
Susan M. Wachter and Jack Guttentag
University of Pennsylvania - Wharton School, Department of Real Estate and University of Pennsylvania - The Wharton School
Downloads 12 (685,539)

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Redlining, mortgages, public policy, housing, real estate

89.

Lending Competition, Regulation and Non-Traditional Mortgages

Number of pages: 48 Posted: 26 Dec 2017 Last Revised: 20 Feb 2021
Arthur Acolin, Xudong An and Susan M. Wachter
University of Washington - College of Built Environments, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 12 (685,539)

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lending competition, non-traditional mortgage, credit supply, anti-predatory lending regulation

90.

The Inevitability of Marketwide Underpricing of Mortgage Default Risk

Real Estate Economics, Vol. 34, No. 4, pp. 479-496, Winter 2006
Number of pages: 18 Posted: 16 Nov 2006
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 11 (693,253)
Citation 1
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91.

What is a Tree Worth? Green-City Strategies, Signaling and Housing Prices

Real Estate Economics, Vol. 36, No. 2, pp. 213-239, Summer 2008
Number of pages: 27 Posted: 08 May 2008
Susan M. Wachter and Grace Wong Bucchianeri
University of Pennsylvania - Wharton School, Department of Real Estate and University of Pennsylvania - Real Estate Department
Downloads 4 (747,543)
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92.

Is the CRA Still Relevant to Mortgage Lending?

Number of pages: 22 Posted: 06 Sep 2019
Paul S. Calem, Lauren Lambie-Hanson and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 1 (776,775)

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Mortgages, Community Reinvestment Act, CRA, FHA

93.

Real Estate and the Great Crisis: Lessons for Macroprudential Policy

Contemporary Economic Policy, Vol. 37, Issue 1, pp. 121-137, 2019
Number of pages: 17 Posted: 30 Nov 2018
John V. Duca, Lilit Popoyan and Susan M. Wachter
Oberlin College, Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM) and University of Pennsylvania - Wharton School, Department of Real Estate
Downloads 0 (793,820)
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94.

REIT Capital Structure Choices: Preparation Matters

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REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Vol. 46, Issue 1, pp. 160-209, 2018
Number of pages: 50 Posted: 21 Feb 2018
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
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REIT Capital Structure Choices: Preparation Matters

Real Estate Economics, Forthcoming
Posted: 06 Feb 2016 Last Revised: 26 Aug 2016
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate

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Real estate investment; leverage; financial crisis

95.

Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

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Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

Real Estate Economics, Vol. 43, Issue 1, pp. 241-270, 2015
Number of pages: 30 Posted: 17 Feb 2015
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate
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Citation 3
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Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities

Real Estate Economics, Forthcoming
Posted: 06 Dec 2013
Andrey D. Pavlov, Eva Steiner and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area, Penn State Smeal College of Business and University of Pennsylvania - Wharton School, Department of Real Estate

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Real estate investment firms, International asset pricing, Macroeconomic risk factors, Credit markets

96.

Interest Rates, User Cost of Capital, and Housing Price Dynamics

46th Annual AREUEA Conference Paper
Posted: 01 Dec 2010
Man Cho, Kyung-Hwan Kim and Susan M. Wachter
KDI School of Public Policy and Management, Sogang University and University of Pennsylvania - Wharton School, Department of Real Estate

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97.

The Effects of Land-Use Constraints on Housing Prices

Posted: 24 Feb 2010
Susan M. Wachter
University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

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98.

Mortgage Put Options and Real Estate Markets

Journal of Real Estate Finance and Economics, Vol. 38, No. 1, 2009
Posted: 20 Oct 2008
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate

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real estate bubble, mortgage lending put options, Asian financial crisis

99.

Robbing the Bank: Non-Recourse Lending and Asset Prices

Posted: 01 Oct 2003
Andrey D. Pavlov and Susan M. Wachter
Simon Fraser University (SFU) - Finance Area and University of Pennsylvania - Wharton School, Department of Real Estate

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asset pricing, lending markets, price bubbles

100.

Racial Differences in Homeownership: The Effect of Residential Location

Posted: 22 Nov 2002
Yongheng Deng, Stephen L. Ross and Susan M. Wachter
Wisconsin School of Business, University of Wisconsin-Madison, University of Connecticut - Department of Economics and University of Pennsylvania - Wharton School, Department of Real Estate

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Homeownership, Residential Location, Race, Credit Constraints, Equity Risk

101.

Anisotropic Autocorrelation in House Prices

Posted: 30 Jun 2002
Kevin Gillen, Thomas G. Thibodeau and Susan M. Wachter
University of Pennsylvania, Wharton, University of Colorado at Boulder - Leeds School of Business and University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

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spatial autocorrelation, house price indices

102.

REIT Economies of Scale: Fact or Fiction?

Posted: 19 Feb 2001
Brent W. Ambrose, Steven R. Ehrlich, William T. Hughes Jr. and Susan M. Wachter
Pennsylvania State University, Government of the United States of America - Office of Policy Development & Research, MIT Realty Advisors and University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

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REITs, Economies of Scale

103.

Community Reinvestment and Credit Risk: Evidence from an Affordable Home Loan Program

Posted: 21 Jan 1999
Paul S. Calem and Susan M. Wachter
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and University of Pennsylvania - Wharton School, Department of Real Estate

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104.

Clustering Methods for Real Estate Portfolios

Posted: 03 Jul 1998
Susan M. Wachter and William N. Goetzmann
University of Pennsylvania - Wharton School, Department of Real Estate and Yale School of Management - International Center for Finance

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105.

Suburbs and Cities

Posted: 15 Nov 1996
William N. Goetzmann, Matthew I. Spiegel and Susan M. Wachter
Yale School of Management - International Center for Finance, Yale University - Yale School of Management, International Center for Finance and University of Pennsylvania - Wharton School, Department of Real Estate

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Other Papers (2)

Total Downloads: 145
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1.

What is a Tree Worth? Green-City Strategies and Housing Prices

Number of pages: 19 Posted: 27 Sep 2006
Susan M. Wachter and Grace Wong Bucchianeri
University of Pennsylvania - Wharton School, Department of Real Estate and University of Pennsylvania - Real Estate Department
Downloads 145

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2.

What is a Tree Worth? Green-City Strategies and Housing Prices

Posted: 04 Aug 2006
Susan M. Wachter and Grace Wong Bucchianeri
University of Pennsylvania - Wharton School, Department of Real Estate and University of Pennsylvania - Real Estate Department

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