Journal Article

Big Federal Stimulus, Home-Value Spike Won’t Ease Next Slump

Abstract: Historically large federal transfers coupled with rapid home-price appreciation bolstered state and local revenue in Texas, softening the economic impact of COVID-19 on vulnerable populations. Ultra-low interest rates and a historic housing boom that aided state and local government operations are fading, suggesting Texas policymakers may encounter additional difficulties during the next downturn.

Keywords: Texas; Revenue; Home prices; economic impacts;

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Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Southwest Economy

Publication Date: 2022

Issue: Third Quarter