Journal Article
Community Banks' Ongoing Role in the U.S. Economy
Lytle, Brent; Summers, Chris; Ziadeh, Stephanie; Hanauer, Matt (2021-06-24)
In recent decades, both the number of community banks and their share of U.S. banking assets have steadily declined, raising questions about the future of community banking. In addition to competitive pressures from larger banking organizations, community banks face growing challenges from broader economic consolidation, changing demographics, and rapidly advancing financial technologies.Matt Hanauer, Brent Lytle, Chris Summers, and Stephanie Ziadeh explore the role of community banks in the U.S. economy, the challenges they face, and their outlook for the future. They find that despite their ...
Economic Review , Volume 106 , Issue no.2 , Pages 5-49

Journal Article
Why Are Multifamily Property Prices Falling?
Hanauer, Matt; Marsh, W. Blake; Sly, Nicholas (2024-09-04)
Multifamily property prices climbed to record levels in recent years amid low interest rates and surging housing demand. More recently, prices have retreated in the face of higher interest rates, slower rent growth, elevated operating expenses, and increased delivery of new units available for rent. However, the deterioration in these fundamentals does not fully explain recent property price declines, suggesting investors’ near-term outlooks have been pessimistic.
Economic Bulletin