학술논문
Credit Constraints and Price Expectations of Homeowners.
Document Type
Article
Source
Subject
*PRICE regulation
*HOMEOWNERS
*CREDIT
*SELF-evaluation
*PRICE markup
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Language
ISSN
0267-3037
Abstract
This paper examines the effect of credit constraints on the sale price expectations of homeowners. We extend the results of Genesove and Mayer (1997) by using a sample of mover and non-mover families living in the Netherlands—a country without formal down-payment requirements. We find that homeowners who are more credit constrained expect to sell their house for a higher price. Homeowners already seem to compensate for credit constraints at the very first stages of the transaction process. These results imply that the findings of Genesove and Mayer (1997) are much more generally applicable than previously considered. [ABSTRACT FROM PUBLISHER]