Forced Sales and House Prices

This paper uses data on all house transactions in Massachusetts over the last 20 years to show that houses sold after foreclosure, or close in time to the death or bankruptcy of a seller, are sold at lower prices than other houses. Foreclosure discounts are on average at 27 percent of the value of a...

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Bibliographic Details
Published in:	The American economic review 2011-08, Vol.101 (5), p.2108-2131
Main Authors:	Campbell, John Y., Giglio, Stefano, Pathak, Parag
Format:	Article
Language:	English
Subjects:	1987-2009 Bankruptcy Bids Central banks Cost control Data analysis Datasets Discounts Economics Estimation Forced sales Foreclosure Foreclosure sales Foreclosures Geographic location Homeowners Houses Housing Housing market Housing prices Market prices Marketing Massachusetts Mortgage loans Mortgages Neighborhoods Price level Prices Real estate Real estate sales Real estate valuation Sales Sales transactions Shorter Papers Studies Transactions U.S.A Vandalism
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