Liar's Loans
How misaligned incentives between brokers, banks and borrowers encouraged widespread falsification on mortgage applications.
Stopping the foreclosure freefall
As Washington weighs action to stabilize the housing market, a new proposal for stemming the tide of foreclosures from Professors Chris Mayer and Tomasz Piskorski of the Business School and Edward Morrison of Columbia Law School is gaining currency. The key, they argue, is to align the financial incentives of all stakeholders to modify loans that homeowners cannot afford and remove legal barriers that deter servicers from seeking loan modifications.
Paying it safe: What we'll spend to keep crime risk at bay
New research using Megan’s Laws data confirms that property values decline when sex offenders move into a neighborhood — and points to how much it's worth spending on policies that prevent violent crime.
Superstar cities
As high salaries soar even higher, housing prices in the most attractive cities have tested their limits.
Where are house prices headed?
Chris Mayer talks about housing market fundamentals, the U.S. housing boom and the surprising results of his recent study of U.S. house prices.
Seller loss aversion
Noting that seller behavior doesn't always conform to standard economic theory, Chris Mayer explains why housing markets tend to function poorly in a down economy.
Agency conflicts and investment timing
If the owner of a piece of land hires a developer to construct a building, the project's timing may hinge on the developer's own motives. How can the owner design a contract that aligns the interests of both parties?