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Lu Han, Chandler Lutz, Benjamin Sand, Derek Stacey, The Effects of a Targeted Financial Constraint on the Housing Market, The Review of Financial Studies, Volume 34, Issue 8, August 2021, Pages 3742–3788, https://doi.org/10.1093/rfs/hhab047
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Abstract
We study how financial constraints affect the housing market by exploiting a regulatory change that increases the down payment requirement for homes selling for