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Category Archives: Housing

Understanding the mortgage process: Your home loan toolkit

CFPB – The Know Before You Owe mortgage disclosure rule makes getting a mortgage easier for homebuyers and refinancers. It helps you shop for the loan that’s best for you and your family. To help you navigate the steps you have to take to get a mortgage, take a look at our new booklet, “Your Home Loan Toolkit: A Step-By-Step Guide.” This consumer-friendly booklet can help you as you think about, apply for, and close on a mortgage. The toolkit helps you calculate how much you can afford for a home, gives you questions to ask your lender, and features worksheets and checklists to fill out during the process. “Your Home Loan Toolkit” is a resource we revised to help make the mortgage process more understandable. Congress required us to revise an existing booklet, called the Settlement Costs Booklet or the Special Information Booklet, to include some additional information. We reviewed core concepts in the toolkit with recent homebuyers to make sure it would be useful and reduced it from 71 pages to 25. When we asked consumers about our new toolkit and whether they thought it was understandable and useful, almost all of them told us they liked the new toolkit.”

Projecting Trends in Severely Cost-Burdened Renters: 2015–2025

“The number of households spending more than 50 percent of their income on rent is expected to rise at least 11 percent from 11.8 million to 13.1 million by 2025, according to new research by Harvard University’s Joint Center for Housing Studies (JCHS) and Enterprise Community Partners Inc (Enterprise). Released [September 21, 2015], Projecting TrendsContinue Reading

Federal Financial Institutions Examination Council 2014 Data on Mortgage Lending

“The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on mortgage lending transactions at 7,062 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies. The HMDA data made available today cover 2014 lending activity, and include applications, originations,Continue Reading

24/7 Wall St. identifies the largest industry in each state

“Over the first half of this year, the U.S. economy generated slightly more than $17.9 trillion in goods and services, up $286 billion from the previous six months. The nation’s economy is driven by a wide array of industries, and every state in the country contributes billions of dollars to the national GDP.Real estate isContinue Reading

Migration Policy – Deferred Action for Childhood Arrivals

Migration Policy Institute: “About the Data Hub – The Data Hub showcases the most current national and state-level demographic, social, and economic facts about immigrants to the U.S.; as well as stock, flow, citizenship, net migration, and historical data for countries in Europe, North America, and beyond. ” Deferred Action for Childhood Arrivals (DACA) ProfilesContinue Reading

Living Wage Calculator

Via MIT – “In many American communities, families working in low-wage jobs make insufficient income to live locally given the local cost of living. Recently, in a number of high-cost communities, community organizers and citizens have successfully argued that the prevailing wage offered by the public sector and key businesses should reflect a wage rateContinue Reading

Millions of Americans experience poverty outside safety nets

Selling plasma to survive: how over a million American families live on $2 per day by Dylan Matthews on September 2, 2015 – “In early 2011, 1.5 million American households, including 3 million children, were living on less than $2 in cash per person per day. Half of those households didn’t have access to in-kindContinue Reading

Household Debt and Business Cycles Worldwide

Mian, Atif R. and Sufi, Amir and Verner, Emil, Household Debt and Business Cycles Worldwide (September 3, 2015). Available for download at SSRN: “A rise in the household debt to GDP ratio predicts lower output growth and higher unemployment over the medium-run, contrary to standard macroeconomic models. GDP forecasts by the IMF and OECDContinue Reading

Census Data Used For Comprehensive Visualization of Segregation in American Cities

Wired – “This is the most comprehensive map of race in America ever created [by Dustin Cable at University of Virginia’s Weldon Cooper Center for Public Service]. White people are shown with blue dots; African-Americans with green; Asians with red; and Latinos with orange, with all other race categories from the Census represented by brown.Continue Reading

Housing Tax and Transfer Programs Decrease Inequality

Gregory Acs and Paul Johnson, Urban Institute. August 18, 2015: “We examine the relationships between housing subsidies, the mortgage interest and real estate tax deductions, and income inequality and find that housing subsidies to low-income families reduce income inequality while the mortgage interest and real estate tax deductions increase it. On net, the distribution ofContinue Reading

Federal Response to Hurricane Katrina Reconsidered 10 Years Later

Nelson A. Rockefeller Institute of Government – Federal Response to Hurricane Katrina Reconsidered 10 Years Later By Marc Landy: “From 2006 through 2008, the Rockefeller Institute partnered with the Public Affairs Research Council of Louisiana to conduct a regional analysis of the recovery from Hurricanes Katrina and Rita in Louisiana, Mississippi, and Alabama. The InstituteContinue Reading

CRS – Effectiveness of the Community Reinvestment Act

The Effectiveness of the Community Reinvestment Act, Darryl E. Getter, Specialist in Financial Economics, January 7, 2015. “This report informs the congressional debate concerning the CRA’s effectiveness in incentivizing bank lending and investment activity to LMI borrowers. After a discussion of the CRA’s origins, it presents the CRA’s examination process and bank activities that areContinue Reading