Trickle-down housing economics
Charles G. Nathanson
(updated September 2023)
High-end construction lowers house prices of and slows down gentrification in lower-quality housing units in the same metro area.
Real effects of rollover risk: evidence from hotels in crisis
Anthony A. DeFusco, Charles G. Nathanson, and Michael Reher
(updated September 2023)
Hotel owners facing mortgage maturities during the COVID-19 crisis booked fewer guests and cut their wage bills more than owners of hotels with mortgages that matured just before the COVID-19 crisis.