Details about Susan M. Wachter

Workplace:

Real Estate Department, Wharton School of Business, University of Pennsylvania, (more information at EDIRC)

Access statistics for papers by Susan M. Wachter.

Last updated 2024-07-09. Update your information in the RePEc Author Service.

Short-id: pwa297

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Jump to Journal Articles Edited books Chapters

Working Papers

2017

1. First-Time Homebuyers: Toward a New Measure
   Working Papers, Federal Reserve Bank of Philadelphia

2016

2. Real Estate and the Great Crisis: Lessons for Macro-Prudential Policy
   LEM Papers Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy View citations (7)
   See also Journal Article REAL ESTATE AND THE GREAT CRISIS: LESSONS FOR MACROPRUDENTIAL POLICY, Contemporary Economic Policy, Western Economic Association International (2019) View citations (8) (2019)

2015

3. Global Food Prices and Domestic Inflation: Some Cross-Country Evidence
   IMF Working Papers, International Monetary Fund View citations (10)
   See also Journal Article Global food prices and domestic inflation: some cross-country evidence, Oxford Economic Papers, Oxford University Press (2016) View citations (25) (2016)

2012

4. Explaining the Housing Bubble
   MPRA Paper, University Library of Munich, Germany View citations (34)

2010

5. House Price Index Methodology
   Working Papers, University of Pennsylvania, Wharton School, Weiss Center View citations (5)

2009

6. Misaligned Incentives and Mortgage Lending in Asia
   Microeconomics Working Papers, East Asian Bureau of Economic Research View citations (1)
   Also in Working Paper, USC Lusk Center for Real Estate (2007)
   See also Chapter Misaligned Incentives and Mortgage Lending in Asia, NBER Chapters, National Bureau of Economic Research, Inc (2009) View citations (1) (2009)

2007

7. The Housing Finance Revolution
   Working Paper, USC Lusk Center for Real Estate View citations (33)
   See also Journal Article The housing finance revolution, Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City (2007) View citations (17) (2007)

2006

8. Immigration and the Neighborhood
   IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (3)
   Also in Working Papers, Federal Reserve Bank of Philadelphia (2006) View citations (6)
   See also Journal Article Immigration and the Neighborhood, American Economic Journal: Economic Policy, American Economic Association (2011) View citations (126) (2011)
9. Underpriced Default Spread Exacerbates Market Crashes
   Working Papers, Singapore Management University, School of Economics View citations (4)
   Also in Finance Working Papers, East Asian Bureau of Economic Research (2006) View citations (4)

2005

10. Subprime lending: neighborhood patterns over time
    Proceedings, Federal Reserve Bank of Chicago View citations (2)
11. The American Mortgage in Historical and International Context
    Working Paper, USC Lusk Center for Real Estate View citations (130)
    See also Journal Article The American Mortgage in Historical and International Context, Journal of Economic Perspectives, American Economic Association (2005) View citations (129) (2005)

2003

12. Does Credit Quality Matter for Homeownership?
    Working Paper, USC Lusk Center for Real Estate View citations (55)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article Does credit quality matter for homeownership?, Journal of Housing Economics, Elsevier (2003) View citations (52) (2003)

2002

13. Racial Differences in Homeownership: The Effect of Residential Location
    Working papers, University of Connecticut, Department of Economics View citations (3)
    See also Journal Article Racial differences in homeownership: the effect of residential location, Regional Science and Urban Economics, Elsevier (2003) View citations (46) (2003)

1999

14. Do Cities and Suburbs Cluster?
    Yale School of Management Working Papers, Yale School of Management
    Also in Yale School of Management Working Papers, Yale School of Management (1999) View citations (1)
15. Employment Access, Residential Location and Homeownership
    Working Paper, USC Lusk Center for Real Estate View citations (1)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
16. Real Estate Booms and Banking Busts: An International Perspective
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (120)

1998

17. Clustering Methods for Real Estate Portfolios
    Yale School of Management Working Papers, Yale School of Management View citations (6)
    See also Journal Article Clustering Methods for Real Estate Portfolios, Real Estate Economics, American Real Estate and Urban Economics Association (1995) View citations (23) (1995)
18. Community Reinvestment and Credit Risk: Evidence from an Affordable Home Loan Program
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (3)
    See also Journal Article Community Reinvestment and Credit Risk: Evidence from an Affordable‐Home‐Loan Program, Real Estate Economics, American Real Estate and Urban Economics Association (1999) View citations (10) (1999)
19. Polarization and Public Housing
    ERES, European Real Estate Society (ERES) View citations (1)
20. REIT Economies of Scale: Fact or Fiction?
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (1)
    See also Journal Article REIT Economies of Scale: Fact or Fiction?, The Journal of Real Estate Finance and Economics, Springer (2000) View citations (27) (2000)
21. Real Estate Cycles and Banking Crises: An International Perspective
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (2)

1996

22. Borrowing Constraints and the Tenure Choice of Young Households
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
23. Expected Home Ownership and Real Wealth Accumulation of Youth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
24. Suburbs and Cities
    Yale School of Management Working Papers, Yale School of Management View citations (1)

1995

25. Wealth Accumulation and Housing Choices of Young Households: An Exploratory Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)

1991

26. Clustering Methods and Commercial Rents
    Working Papers, Columbia - Graduate School of Business

Undated

27. A Tale of Two Cities: Racial and Ethnic Geographic Disparities in Home Mortgage Lending in Boston and Philadelphia
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (23)
28. An Economic Analysis of Housing Abandonment
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article An Economic Analysis of Housing Abandonment, Journal of Housing Economics, Elsevier (1998) View citations (10) (1998)
29. Anistropic Autocorrelation in House Prices
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article Anisotropic Autocorrelation in House Prices, The Journal of Real Estate Finance and Economics, Springer (2001) View citations (36) (2001)
30. Bubbles in Real Estate Markets
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (11)
31. Managing Metropolitan Futures: The Role of Information Intermediaries
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
32. Polarization and Public Housing in the United States
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
33. Robbing the Bank: Non-recourse Lending and Asset Prices
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article Robbing the Bank: Non-recourse Lending and Asset Prices, The Journal of Real Estate Finance and Economics, Springer (2004) View citations (14) (2004)
34. The Differential Impacts of Federally Assisted Housing Programs on Nearby Property Values: A Philadelphia Case Study
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (6)
35. The Future of Public Housing
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
36. The Impacts Of Affordable Lending Efforts On Homeownership Rates
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (7)
    Also in Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania
    See also Journal Article The impacts of affordable lending efforts on homeownership rates, Journal of Housing Economics, Elsevier (2003) View citations (51) (2003)
37. The Inflationary Impact of Excess Demand in Agriculture
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
38. The Neighborhood Distribution of Subprime Mortgage Lending
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (2)
    See also Journal Article The Neighborhood Distribution of Subprime Mortgage Lending, The Journal of Real Estate Finance and Economics, Springer (2004) View citations (52) (2004)
39. The Role of Speculation in Real Estate Cycles
    Zell/Lurie Center Working Papers, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania View citations (15)
    See also Journal Article The Role of Speculation in Real Estate Cycles, Journal of Real Estate Literature, Taylor & Francis Journals (2005) View citations (1) (2005)

Journal Articles

2024

1. Climate risk in mortgage markets: Evidence from Hurricanes Harvey and Irma
   Real Estate Economics, 2024, 52, (3), 660-686
2. Why do young adults coreside with their parents?
   Real Estate Economics, 2024, 52, (1), 7-44

2023

3. The price effects of greening vacant lots: How neighborhood attributes matter
   Real Estate Economics, 2023, 51, (3), 573-610 View citations (3)

2022

4. Lending competition, regulation, and nontraditional mortgages
   Real Estate Economics, 2022, 50, (2), 340-365 View citations (1)

2021

5. Government-Sponsored Enterprises: Their Viability as Public Utilities
   Housing Policy Debate, 2021, 31, (1), 33-50
6. Price Discovery Limits in the Credit Default Swap Market in the Financial Crisis
   The Journal of Real Estate Finance and Economics, 2021, 62, (2), 165-186 View citations (1)
7. The Mortgage Market as a Stimulus Channel in the COVID-19 Crisis
   Housing Policy Debate, 2021, 31, (1), 66-80 View citations (1)
8. The Mortgage Market in the Time of COVID
   Housing Policy Debate, 2021, 31, (1), 2-3

2020

9. Flood Risk and the U.S. Housing Market
   Journal of Housing Research, 2020, 29, (S1), S3-S24 View citations (4)
10. Is the Community Reinvestment Act Still Relevant to Mortgage Lending?
    Housing Policy Debate, 2020, 30, (1), 46-60
11. Mortgage Risk Premiums during the Housing Bubble
    The Journal of Real Estate Finance and Economics, 2020, 60, (4), 421-468 View citations (4)
12. The Past, Present, and Future of the Community Reinvestment Act
    Housing Policy Debate, 2020, 30, (1), 1-3 View citations (1)

2019

13. Accessing Homeownership With Credit Constraints
    Housing Policy Debate, 2019, 29, (1), 108-125
14. REAL ESTATE AND THE GREAT CRISIS: LESSONS FOR MACROPRUDENTIAL POLICY
    Contemporary Economic Policy, 2019, 37, (1), 121-137 View citations (8)
    See also Working Paper Real Estate and the Great Crisis: Lessons for Macro-Prudential Policy, LEM Papers Series (2016) View citations (7) (2016)

2018

15. Credit risk transfer, informed markets, and securitization
    Economic Policy Review, 2018, (24-3), 117-137 View citations (3)
16. REIT Capital Structure Choices: Preparation Matters
    Real Estate Economics, 2018, 46, (1), 160-209 View citations (6)
17. The Consequences of REIT Index Membership for Return Patterns
    Real Estate Economics, 2018, 46, (1), 210-250 View citations (9)

2017

18. Homeownership and Nontraditional and Subprime Mortgages
    Housing Policy Debate, 2017, 27, (3), 393-418 View citations (3)
19. Opportunity, Housing Access, and Infrastructure
    Housing Policy Debate, 2017, 27, (3), 468-471 View citations (2)

2016

20. Borrowing Constraints and Homeownership
    American Economic Review, 2016, 106, (5), 625-29 View citations (37)
21. Credit Supply and Housing Prices in National and Local Markets
    Public Finance Review, 2016, 44, (1), 6-21
22. Global food prices and domestic inflation: some cross-country evidence
    Oxford Economic Papers, 2016, 68, (3), 665-687 View citations (25)
    See also Working Paper Global Food Prices and Domestic Inflation: Some Cross-Country Evidence, IMF Working Papers (2015) View citations (10) (2015)
23. Why are aggressive mortgage products bad for the housing market?
    Journal of Economics and Business, 2016, 84, (C), 148-161 View citations (2)

2015

24. Housing America: The Unequal Geography of Risk and Opportunity
    Housing Policy Debate, 2015, 25, (4), 813-816
25. Macroeconomic Risk Factors and the Role of Mispriced Credit in the Returns from International Real Estate Securities
    Real Estate Economics, 2015, 43, (1), 241-270 View citations (13)
26. The Housing and Credit Bubbles in the United States and Europe: A Comparison
    Journal of Money, Credit and Banking, 2015, 47, (S1), 37-42 View citations (16)

2014

27. Borrowing constraints during the housing bubble
    Journal of Housing Economics, 2014, 24, (C), 4-20 View citations (25)
28. Repeat Sales House Price Index Methodology
    Journal of Real Estate Literature, 2014, 22, (1), 23-46 View citations (1)
29. The Market Structure of Securitisation and the US Housing Bubble
    National Institute Economic Review, 2014, 230, (1), R34-R44 View citations (3)
    Also in National Institute Economic Review, 2014, 230, R34-R44 (2014)

2013

30. Real estate prices in Beijing, 1644 to 1840
    Explorations in Economic History, 2013, 50, (3), 368-386 View citations (10)
31. Why Housing?
    Housing Policy Debate, 2013, 23, (1), 5-27 View citations (2)

2012

32. Mortgage Product Substitution and State Anti-predatory Lending Laws: Better Loans and Better Borrowers?
    Atlantic Economic Journal, 2012, 40, (3), 273-294 View citations (8)

2011

33. Immigration and the Neighborhood
    American Economic Journal: Economic Policy, 2011, 3, (2), 169-88 View citations (126)
    See also Working Paper Immigration and the Neighborhood, IZA Discussion Papers (2006) View citations (3) (2006)
34. Subprime Lending and Real Estate Prices
    Real Estate Economics, 2011, 39, (1), 1-17 View citations (39)

2010

35. Credit impairment and housing tenure status
    Journal of Housing Economics, 2010, 19, (3), 219-232 View citations (8)
36. The Ongoing Financial Upheaval: Understanding the Sources and Way Out
    International Real Estate Review, 2010, 13, (2), 218-237

2009

37. Mortgage Put Options and Real Estate Markets
    The Journal of Real Estate Finance and Economics, 2009, 38, (1), 89-103 View citations (10)
38. The Shape of the New American City
    The ANNALS of the American Academy of Political and Social Science, 2009, 626, (1), 6-10
39. Urban Growth and Housing Affordability: The Conflict
    The ANNALS of the American Academy of Political and Social Science, 2009, 626, (1), 112-131 View citations (1)

2008

40. Green investment strategies: a positive force in cities
    Communities and Banking, 2008, (Spr), 24-27
41. Special issue on subprime mortgage lending
    Journal of Housing Economics, 2008, 17, (4), 253-253 View citations (1)
42. State and local anti-predatory lending laws: The effect of legal enforcement mechanisms
    Journal of Economics and Business, 2008, 60, (1-2), 47-66 View citations (32)
43. What Is a Tree Worth? Green‐City Strategies, Signaling and Housing Prices
    Real Estate Economics, 2008, 36, (2), 213-239 View citations (10)

2007

44. The housing finance revolution
    Proceedings - Economic Policy Symposium - Jackson Hole, 2007, 21-67 View citations (17)
    See also Working Paper The Housing Finance Revolution, Working Paper (2007) View citations (33) (2007)

2005

45. Bank lending and real estate in Asia: market optimism and asset bubbles
    Journal of Asian Economics, 2005, 15, (6), 1103-1118 View citations (20)
46. Comment on "Resolving large financial intermediaries: Banks versus housing enterprises" by Eisenbeis et al
    Journal of Financial Stability, 2005, 1, (3), 447-450 View citations (1)
47. The American Mortgage in Historical and International Context
    Journal of Economic Perspectives, 2005, 19, (4), 93-114 View citations (129)
    See also Working Paper The American Mortgage in Historical and International Context, Working Paper (2005) View citations (130) (2005)
48. The Role of Speculation in Real Estate Cycles
    Journal of Real Estate Literature, 2005, 13, (2), 141-164 View citations (1)
    See also Working Paper The Role of Speculation in Real Estate Cycles, Zell/Lurie Center Working Papers View citations (15)

2004

49. Neighborhood patterns of subprime lending: Evidence from disparate cities
    Housing Policy Debate, 2004, 15, (3), 603-622 View citations (23)
50. Robbing the Bank: Non-recourse Lending and Asset Prices
    The Journal of Real Estate Finance and Economics, 2004, 28, (2_3), 147-160 View citations (14)
    See also Working Paper Robbing the Bank: Non-recourse Lending and Asset Prices, Zell/Lurie Center Working Papers
51. The Neighborhood Distribution of Subprime Mortgage Lending
    The Journal of Real Estate Finance and Economics, 2004, 29, (4), 393-410 View citations (52)
    See also Working Paper The Neighborhood Distribution of Subprime Mortgage Lending, Zell/Lurie Center Working Papers View citations (2)

2003

52. Commentary
    Economic Policy Review, 2003, (Jun), 167-168
53. Does credit quality matter for homeownership?
    Journal of Housing Economics, 2003, 12, (4), 318-336 View citations (52)
    See also Working Paper Does Credit Quality Matter for Homeownership?, Working Paper (2003) View citations (55) (2003)
54. Racial differences in homeownership: the effect of residential location
    Regional Science and Urban Economics, 2003, 33, (5), 517-556 View citations (46)
    See also Working Paper Racial Differences in Homeownership: The Effect of Residential Location, Working papers (2002) View citations (3) (2002)
55. The impacts of affordable lending efforts on homeownership rates
    Journal of Housing Economics, 2003, 12, (1), 29-59 View citations (51)
    See also Working Paper The Impacts Of Affordable Lending Efforts On Homeownership Rates, Zell/Lurie Center Working Papers View citations (7)

2002

56. Special issue on housing policy
    Journal of Housing Economics, 2002, 11, (3), 183-186

2001

57. Anisotropic Autocorrelation in House Prices
    The Journal of Real Estate Finance and Economics, 2001, 23, (1), 5-30 View citations (36)
    See also Working Paper Anistropic Autocorrelation in House Prices, Zell/Lurie Center Working Papers

2000

58. REIT Economies of Scale: Fact or Fiction?
    The Journal of Real Estate Finance and Economics, 2000, 20, (2), 211-24 View citations (27)
    See also Working Paper REIT Economies of Scale: Fact or Fiction?, Zell/Lurie Center Working Papers (1998) View citations (1) (1998)

1999

59. Analyzing the Relationships among Race, Wealth, and Home Ownership in America
    Journal of Housing Economics, 1999, 8, (2), 63-89 View citations (43)
60. Community Reinvestment and Credit Risk: Evidence from an Affordable‐Home‐Loan Program
    Real Estate Economics, 1999, 27, (1), 105-134 View citations (10)
    See also Working Paper Community Reinvestment and Credit Risk: Evidence from an Affordable Home Loan Program, Zell/Lurie Center Working Papers (1998) View citations (3) (1998)

1998

61. An Economic Analysis of Housing Abandonment
    Journal of Housing Economics, 1998, 7, (4), 287-303 View citations (10)
    See also Working Paper An Economic Analysis of Housing Abandonment, Zell/Lurie Center Working Papers
62. Information Externalities and Home Mortgage Underwriting
    Journal of Urban Economics, 1998, 44, (3), 317-332 View citations (19)
63. Polarisation, Public Housing and Racial Minorities in US Cities
    Urban Studies, 1998, 35, (10), 1889-1911 View citations (11)
64. Sociology
    The ANNALS of the American Academy of Political and Social Science, 1998, 555, (1), 227-228

1997

65. Discrimination in Financial Services: What Do We Know?
    Journal of Financial Services Research, 1997, 11, (1), 205-208 View citations (4)
66. Do Borrowing Constraints Change U.S. Homeownership Rates?
    Journal of Housing Economics, 1997, 6, (4), 318-333 View citations (34)
67. Frequency of Transaction and House Price Modeling
    The Journal of Real Estate Finance and Economics, 1997, 14, (1-2), 173-87 View citations (34)

1995

68. Clustering Methods for Real Estate Portfolios
    Real Estate Economics, 1995, 23, (3), 271-310 View citations (23)
    See also Working Paper Clustering Methods for Real Estate Portfolios, Yale School of Management Working Papers (1998) View citations (6) (1998)

1994

69. Beyond bricks and mortar: Reexamining the purpose and effects of housing assistance, by Sandra J. Newman and Ann B. Schnare. Washington DC: Urban Institute Press, 1992, 160 pp. Price: $46.50 cloth, $18.50 paper
    Journal of Policy Analysis and Management, 1994, 13, (2), 393-396
70. Borrower and Neighborhood Racial and Income Characteristics and Financial Institution Mortgage Application Screening
    The Journal of Real Estate Finance and Economics, 1994, 9, (3), 223-39 View citations (20)
    Also in Proceedings, 1994, 223-243 (1994) View citations (20)
71. Homogeneous Groupings of Metropolitan Housing Markets
    Journal of Housing Economics, 1994, 3, (3), 186-206 View citations (8)

1992

72. Did Office Market Size Matter in the 1980s? A Time‐Series Cross‐Sectional Analysis of Metropolitan Area Office Markets
    Real Estate Economics, 1992, 20, (2), 302-324 View citations (12)

1991

73. On Choosing Among House Price Index Methodologies
    Real Estate Economics, 1991, 19, (3), 286-307 View citations (94)

1990

74. Housing issues of the 1990s, by Sara Rosenberry and Chester Hartman. New York: Praeger, 1989, 240 pp. Price: $55.00 cloth
    Journal of Policy Analysis and Management, 1990, 9, (3), 422-425
75. The Effects of Land-Use Constraints on Housing Prices
    Land Economics, 1990, 66, (3), 315-324 View citations (85)

1989

76. The Impacts of Borrowing Constraints on Homeownership
    Real Estate Economics, 1989, 17, (4), 389-402 View citations (163)

1983

77. Economics
    The ANNALS of the American Academy of Political and Social Science, 1983, 465, (1), 211-212

Edited books

2014

1. The Global Financial Crisis and Housing
   Books, Edward Elgar Publishing View citations (4)

Chapters

2014

1. The global financial crisis and housing: a new policy paradigm
   Chapter 1 in The Global Financial Crisis and Housing, 2014, pp 3-18 View citations (1)

2009

2. Misaligned Incentives and Mortgage Lending in Asia
   A chapter in Financial Sector Development in the Pacific Rim, 2009, pp 95-111 View citations (1)
   See also Working Paper Misaligned Incentives and Mortgage Lending in Asia, East Asian Bureau of Economic Research (2009) View citations (1) (2009)

2005

3. Residential real estate price indices as financial soundness indicators: methodological issues
   A chapter in Real estate indicators and financial stability, 2005, vol. 21, pp 197-211 View citations (18)

1979

4. Structuralism vs. Monetarism: Inflation in Chile
   A chapter in Short-Term Macroeconomic Policy in Latin America, 1979, pp 227-256 View citations (5)

1975

5. Comment on "Housing Policy, Mortgage Policy, and the Federal Housing Administration"
   A chapter in Measuring and Managing Federal Financial Risk, 1975, pp 125-130