IDEAS home Printed from https://ideas.repec.org/a/taf/rjerxx/v39y2017i3p349-372.html
   My bibliography  Save this article

A Search for the Genetic Contributors to Strategic Mortgage Default: The Catechol-O-Methyltransferase (COMT) Gene

Author

Listed:
  • Michael J. Seiler

Abstract

This study is the first in real estate to identify a specific genetic marker with a significantly greater association for individuals who are more likely to strategically default on their underwater mortgage. The catechol-O-methyltransferase (COMT) gene produces an enzyme that regulates dopamine levels (among many other chemicals) in the prefrontal cortex of the brain. I find that borrowers who have one or two of the “A” alleles (or more formally, the “methionine” allele) are significantly more likely to strategically default than those who possess the “G” (or “valine”) allele. I find no significant association for the DRD4 7-repeater or the 5-HTTLPR markers. My hope is that future researchers will build upon this seminal study to better understand whether borrower strategic defaults are more a function of nature or nurture. Reconciling this difference has tremendous policy implications.

Suggested Citation

  • Michael J. Seiler, 2017. "A Search for the Genetic Contributors to Strategic Mortgage Default: The Catechol-O-Methyltransferase (COMT) Gene," Journal of Real Estate Research, Taylor & Francis Journals, vol. 39(3), pages 349-372, July.
    • Handle: RePEc:taf:rjerxx:v:39:y:2017:i:3:p:349-372
    DOI: 10.1080/10835547.2017.12091477
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10835547.2017.12091477
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/10835547.2017.12091477?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:rjerxx:v:39:y:2017:i:3:p:349-372. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/rjer20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.