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Category Archives: Housing

Returning to the Nest: Debt and Parental Co-Residence Among Young Adults

Dettling, Lisa J. and Hsu, Joanne W., Returning to the Nest: Debt and Parental Co-Residence Among Young Adults (September 2, 2014). FEDS Working Paper No. 2014-80. Available for download at SSRN: http://ssrn.com/abstract=2511411

“This paper examines the relationship between a young adults’ debt burden and the decision to co-reside with a parent. Using a quarterly panel of young adults’ credit histories, and controlling for age, country, and quarter fixed effects, and local demographic characteristics, unemployment rates, and house prices, we estimate the relationship between current period debt and subsequent decisions to co-reside with a parent. Our results indicate that indebtedness — increases flows into parental co-residence. Moreover, after moving in, delinquency and low credit scores increase time spent in co-residence. We find that the changing debt portfolios of young adults over this period — characterized by rising student loan debt and small declines in credit card, auto and mortgage debt — can predict 30 percent of the observed increase in flows into co-residence, and 26 percent of the observed increase in time spent in co-residence.”

American Housing Survey: 2013 Detailed Tables

Release Number: CB14-TPS.78: “The first findings from the 2013 American Housing Survey are now available in the form of dozens of detailed tables and a microdata file. The American Housing Survey is conducted biennially and, as in past years, provides current national-level information on a wide range of housing subjects. Topics unique to this surveyContinue Reading

Federal Reserve Board Beige Book – October 15, 2014

Summary of Commentary on Current Economic Conditions By Federal Reserve District, October 2014 “Reports from the twelve Federal Reserve Districts generally described modest to moderate economic growth at a pace similar to that noted in the previous Beige Book. Moderate growth was reported by the Cleveland, Chicago, St. Louis, Minneapolis, Dallas, and San Francisco Districts,Continue Reading

Housing: Before, During, and After The Great Recession

BLS – September 2014: Demtrio M.Scopelit – “Home ownership symbolizes the American dream. The home we live in often represents how we chose to live our lives. As Winston Churchill once said, “We shape our dwellings, and afterwards our dwellings shape us.” As the 2000s unfolded, economic growth and public policies designed to increase home ownership ledContinue Reading

Community Credit Profiles: Mortgage Markets

New York Fed Overview – Explore Maps: “Community Credit Profiles provide local information on credit access and use to help inform community development policymakers and practitioners. Indicators are updated twice a year at the national, state, and county levels to enable peer comparisons and program and activity benchmarks. Homeownership is a widely acknowledged marker of economicContinue Reading

GAO – HOUSING FINANCE SYSTEM: A Framework for Assessing Potential Changes

A Framework for Assessing Potential Changes – GAO-15-131: Published: Oct 7, 2014. Publicly Released: Oct 7, 2014. “Developments in the single-family housing finance market from 2000-2013 led to changes in the federal government’s role in the housing finance system and ultimately to a significant increase in that role. For example: Before the 2007-2009 financial crisis, the marketContinue Reading

The Middle-Class Squeeze – Report

Jennifer Erickson | September 24, 2014, Center for American Progress “The American middle class is in trouble. The middle-class share of national income has fallen, middle-class wages are stagnant, and the middle class in the United States is no longer the world’s wealthiest. But income is only one side of the story. The cost of being in the middleContinue Reading

Budgetary Estimates Single-Family Mortgage Guarantee Program of FHA

“Loan guarantees made in the Federal Housing Administration’s (FHA’s) guarantee program for single-family mortgages from 1992 to 2013 are now projected to generate small costs over their lifetimes rather than the significant savings that were recorded in the federal budget at the time the guarantees were made—a deterioration that stems largely from the sharp downturnContinue Reading

The Price of Crisis: Eminent Domain, Local Governments, and the Value of Underwater Mortgages

Brescia, Raymond H. and Martin, Nicholas M., The Price of Crisis: Eminent Domain, Local Governments, and the Value of Underwater Mortgages (September 19, 2014). Temple Political & Civil Rights Law Review, Vol. 24, 2014, Forthcoming. Available for download at SSRN: http://ssrn.com/abstract=2498651 “Governments at all levels in the U.S. have deployed a range of tactics to addressContinue Reading

Presentations about the Budget Outlook – CBO

Doug Elmendorf, CBO Director, at the Macroeconomic Advisers’ 24th Annual Washington Policy Seminar: “I was very pleased to speak last week at Macroeconomic Advisers’ Washington Policy Seminar and at Cornell University. (See my slides for the first talk and my slides for the second talk.) In both presentations I described CBO’s updated outlook for the federal budget under current lawContinue Reading

NY Fed Finds Consumers Expect Lower Home Price Growth but Improved Credit Availability

“The Federal Reserve Bank of New York today released results from its August 2014 Survey of Consumer Expectations (SCE), which provides insight into Americans’ views on inflation, prices, the labor market and household finance. The median home price change expectation at the one-year ahead horizon in August was 3.5 percent, its lowest reading since the dataContinue Reading

Additional 2013 Characteristics of New Housing

“The U.S. Census Bureau’s Survey of Construction, which is jointly funded by the Department of Housing and Urban Development, has released new annual characteristics tables. This release includes never before published data on age-restricted developments, presence of homeowners association, sewer and water systems, framing material and laundry. The report provides estimates of new privately ownedContinue Reading