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http://bura.brunel.ac.uk/handle/2438/32108Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Damianov, DS | - |
| dc.contributor.author | Wang, X | - |
| dc.contributor.author | Yan, C | - |
| dc.date.accessioned | 2025-10-07T17:22:59Z | - |
| dc.date.available | 2025-10-07T17:22:59Z | - |
| dc.date.issued | 2025-09-23 | - |
| dc.identifier | ORCiD: Damian S. Damianov https://orcid.org/0000-0002-6100-0018 | - |
| dc.identifier | ORCiD: Xiangdong Wang https://orcid.org/0009-0005-2004-7679 | - |
| dc.identifier | ORCiD: Cheng Yan https://orcid.org/0000-0002-3569-6859 | - |
| dc.identifier | Article number: 2549592 | - |
| dc.identifier.citation | Damianov, D.S., Wang, X. and Yan, C. (2025) 'House price dynamics and mortgage defaults: the role of recourse', Regional Studies, 59 (1), 2549592, pp. 1 - 15. doi: 10.1080/00343404.2025.2549592. | en_US |
| dc.identifier.issn | 0034-3404 | - |
| dc.identifier.uri | https://bura.brunel.ac.uk/handle/2438/32108 | - |
| dc.description | Data Availability Statement: The data that support the findings of this study are available from a commercial data provider (CoreLogic, www.corelogic.com). Restrictions apply to the availability of these data, which were used under license for this study. Additional data used in this study were collected from resources available in the public domain. These data are available from the corresponding author upon request. | en_US |
| dc.description | Supplemental Material: Supplemental data for this article can be accessed online at: https://ndownloader.figstatic.com/files/58152341 . | - |
| dc.description.abstract | This paper investigates the relationship between house prices and mortgage defaults in recourse and non-recourse US metropolitan areas. The theoretical analysis shows that shocks to house price returns have a stronger effect on defaults in non-recourse markets than in recourse markets due to strategic default behaviour. Empirical evidence from a panel vector autoregressive (Panel VAR) model supports this prediction and, in addition, reveals a stronger house price response to defaults in non-recourse markets than predicted by the theoretical model. The findings highlight key differences in mortgage default dynamics across recourse and non-recourse markets, offering insights for households, lenders, policymakers and regulators. | en_US |
| dc.description.sponsorship | This project was supported by the DUBS 4* Fund and by the Department of Finance at Durham University Business School. | en_US |
| dc.format.extent | 1 - 15 | - |
| dc.format.medium | Print-Electronic | - |
| dc.language | English | - |
| dc.language.iso | en | en_US |
| dc.publisher | Routledge on behalf of the Regional Studies Association | en_US |
| dc.rights | Creative Commons Attribution 4.0 International | - |
| dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | - |
| dc.subject | mortgage default | en_US |
| dc.subject | strategic default | en_US |
| dc.subject | recourse | en_US |
| dc.subject | house price dynamics | en_US |
| dc.title | House price dynamics and mortgage defaults: the role of recourse | en_US |
| dc.type | Article | en_US |
| dc.identifier.doi | https://doi.org/10.1080/00343404.2025.2549592 | - |
| dc.relation.isPartOf | Regional Studies | - |
| pubs.issue | 1 | - |
| pubs.publication-status | Published | - |
| pubs.volume | 59 | - |
| dc.identifier.eissn | 1360-0591 | - |
| dc.rights.license | https://creativecommons.org/licenses/by/4.0/legalcode.en | - |
| dc.rights.holder | The Author(s) | - |
| Appears in Collections: | Dept of Economics and Finance Research Papers | |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| FullText.pdf | Copyright © 2025 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution 4.0 International License (https://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent. | 1.52 MB | Adobe PDF | View/Open |
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