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Category Archives: Housing

Report – A Close Look at the Decline of Homeownership

Federal Reserve Bank of New York – Liberty Street Economics – , February 17, 2017

“The homeownership rate—the percentage of households that own rather than rent the homes that they live in—has fallen sharply since mid-2005. In fact, in the second quarter of 2016 the homeownership rate fell to 62.9 percent, its lowest level since 1965. In this blog post, we look at underlying demographic trends to gain a deeper understanding of the large increase in the homeownership rate from 1995 to 2005 and the subsequent large decline. Although there is reason to believe that the homeownership rate may begin to rise again in the not-too-distant future, it is unlikely to fully recover to its previous peak levels. This is a disconcerting finding for those who view homeownership as an integral part of the American Dream and a key component of income security during retirement. An estimate of the homeownership rate is published each quarter by the U.S. Census Bureau, based on a sample of housing units. A quarterly time-series of the not-seasonally-adjusted homeownership rate since 1965 is presented in the chart below. The first thing to catch the eye when looking at this chart is how much the homeownership rate rose over the period from the mid-1990s through 2005, and then how much it has declined since reaching a peak. The homeownership rate of 63.4 percent in the third quarter of 2016 is only modestly above the series low of 63.0 percent in the fourth quarter of 1965…”

GAO – HUD Needs to Address Significant Weaknesses in Its Cost Estimating Practice

“The cost estimates that the Department of Housing and Urban Development (HUD) developed for the four selected information technology (IT) investments were unreliable and, thus, lacked a sound basis for informing the department’s investment and budgetary decisions. GAO’s Cost Estimating and Assessment Guide (Cost Guide) defines best practices that are associated with four characteristics of… Continue Reading

Research – Basic Facts about Low-Income Children in America

National Center for Children in Poverty Report January 2017 – “Among all children under 18 years in the U.S., 43 percent live in low-income families and 21 percent—approximately one in five—lives in a poor family. This means that children are overrepresented among our nation’s poor; they represent 23 percent of the population but comprise 33… Continue Reading

New OECD Affordable Housing Database

“Access to good-quality affordable housing is a fundamental need and key to achieving a number of social policy objectives, including reducing poverty and enhancing equality of opportunity, social inclusion and mobility. Housing needs are frequently unmet, and today a significant number of people across the OECD are homeless and too many households live in low-quality… Continue Reading

President Donald J. Trump Announces His Cabinet

White House prress release, February 8, 2017 reflects a cabinet with designees still awaiting confirmation: President Donald J. Trump today formally announced the 24 people who will be serving with him on his Cabinet. Unfilled positions – Agriculture, Commerce, Energy, EPA, HUD, Interior, Labor, Small Business, Veterans Affairs, OMB, Director of National Intelligence and the… Continue Reading

Turning Homeowners into Outlaws: How Anti-Home-Sharing Regulations Chip Away at the Foundation of an American Dream

Sandefur, Christina, Turning Homeowners into Outlaws: How Anti-Home-Sharing Regulations Chip Away at the Foundation of an American Dream (January 30, 2017). University of Hawaii Law Review, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2908248 ““Home-sharing” may sound like a modern invention, part of the cutting-edge, high-tech “sharing economy.” In fact, home-sharing is a centuries-old American tradition. For generations,… Continue Reading

Beige Book Summary of Commentary on Current Economic Conditions By Federal Reserve District January 2017

Overall Economic Activity – “Reports from the twelve Federal Reserve Districts indicated that the economy continued to expand at a modest pace across most regions from late November through the end of the year. Manufacturers in most Districts reported increased sales with several citing a turnaround versus earlier in 2016. Growth in the energy industry… Continue Reading

The Online Atlas of Urban Expansion

“The Atlas of Urban Expansion, an open-source online resource with maps, satellite images, and data on spatial changes in cities around the world, has been revised and updated. The new database is a partnership of the Lincoln Institute of Land Policy, UN-Habitat, and New York University, The Atlas of Urban Expansion now features a global… Continue Reading

2015 American Housing Survey Statistics for Selected Metropolitan Areas

“This release of statistics from the 2015 American Housing Survey includes summary tables for the 15 largest metropolitan areas and 10 additional metropolitan areas.  The 2015 American Housing Survey examined many characteristics, including: Housing costs for owners and renters. Remodeling and repair frequency. Reasons for moving. Additionally, the latest survey data provide statistics about: Food… Continue Reading

Updated Household Projections, 2015 – 2035: Methodology and Results

“Using new Census Bureau projections and a revised methodology for predicting headship rates, this paper updates the Harvard University Joint Center for Housing Studies’ (JCHS) household projections for 2015 to 2035. The paper incorporates new population projections from the US Census Bureau that are substantially larger than the Census Bureau’s previous projections.The paper also makes… Continue Reading

GAO Report on Climate Change

Climate Change: Improved Federal Coordination Could Facilitate Use of Forward-Looking Climate Information in Design Standards, Building Codes, and Certifications, GAO-17-3: Published: Nov 30, 2016. Publicly Released: Jan 3, 2017. “The houses we live in, buildings we work in, and roads and bridges we use daily are supposed to be built to last—whatever the local forecast… Continue Reading

US Sues Barclays Bank to Recover Civil Penalties for Fraud in the Sale of Residential Mortgage-Backed Securities

News release: “The United States Department of Justice today filed a civil complaint in the Eastern District of New York against Barclays Bank PLC and several of its United States affiliates (together, Barclays), alleging that Barclays engaged in a fraudulent scheme to sell residential mortgage-backed securities (RMBS) supported by defective and misrepresented mortgage loans.  As… Continue Reading