EconStor >
Forschungsinstitut zur Zukunft der Arbeit (IZA), Bonn >
IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA) >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/51949
  
Title:Detecting mortgage delinquencies PDF Logo
Authors:Askitas, Nikos
Zimmermann, Klaus F.
Issue Date:2011
Series/Report no.:Discussion paper series // Forschungsinstitut zur Zukunft der Arbeit 5895
Abstract:Economic hardship is strongly reflected by the housing market. It is the concern of much research, but its analysis is often obstructed by insufficient lagged data. This paper evaluates search intensity for hardship letter from Google Insights to detect ensuing mortgage delinquencies. Such searches locate documents which assist to write a successful loan modification request. Other relevant searches for short sale, REO (as in Real Estate Owned) or FHA (as in Federal Housing Administration) are used to provide a comprehensive view of the housing market. Using data from the great recession and benchmarking them against data from the labor market, the paper demonstrates that internet activity captures socioeconomic phenomena in real time very well, with no interviewer effect at a high frequency. This suggests that the new data base should spur new housing research.
Subjects:housing
hardship letter
loan delinquency
mortgage
National Delinquency Survey (NDS)
financial crisis
recession
bubble
Google Insights
JEL:C81
E65
G21
R31
Persistent Identifier of the first edition:urn:nbn:de:101:1-201108093264
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

Files in This Item:
File Description SizeFormat
669982415.pdf338.69 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/51949

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.