Do Lenders Make Less-Informed Investments in High-Growth Housing Markets?
Author/Editor: Sophia Chen, Lev Ratnovski, Yangfan Sun
Release Date: © May, 2021
ISBN
: 978-1-51357-338-0
Stock #: WPIEA2021151
English
Stock Status: On back-order
Languages and formats available
| English | French | Spanish | Arabic | Russian | Chinese | Portuguese | |
| Paperback | Yes | ||||||
| Yes | |||||||
| ePub | Yes |
Description
Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these markets and experience greater stock return volatility. When these lenders expand to high-growth markets, they also ration credit to a signiï¬�cantly greater degree than when they ex-pand to other markets. Mean-variance analyses show that nonlocal lenders' exposure to high-growth markets is associated with more risk, more eï¬
More publications in this series: Working Papers
More publications by: Sophia Chen ; Lev Ratnovski ; Yangfan Sun
