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Journal Article
Texas dodges worst of foreclosure woes
Petersen, D'Ann M.; Assanie, Laila (2009-10)
The housing bust leaves in its wake elevated foreclosure levels in Texas and the U.S. Like other consequences of the bust, including declines in construction and existing-home sales, foreclosures have been less severe in Texas. While the nation's foreclosure rate has grown nearly sixfold over the last four years, Texas' has climbed only marginally. ; Housing markets in Texas and the U.S. have shown signs of stabilizing in recent months. Home sales and construction starts are beginning to tick up, thanks in large part to low mortgage rates and the first-time homebuyer tax credit. Despite the ...
Southwest Economy , Issue Q4 , Pages 11-14, 16

Speech
The national and regional economic outlook
Dudley, William (2012)
Remarks at the Center for Economic Development, Syracuse, New York.
Speech , Paper 79

Journal Article
House price differentials and dynamics: evidence from the Los Angeles and San Francisco metropolitan areas
Gabriel, Stuart A.; Wascher, William L.; Mattey, Joe P. (1999)
This paper applies insights from economic theory to explain recent housing price patterns in California's two largest metropolitan areas. We pay particular attention to the role of migration between metropolitan areas in explaining overall housing price dynamics for a given metropolitan area, and we show how household mobility within a metropolitan area tends to attenuate price pressures in the most supply-constrained places. In reviewing various models' ability to explain California's house price patterns, we also provide some historical perspective on California's urban structure, ...
Economic Review

Journal Article
The housing price is right
Sullivan, Colbey (2004-11)
District housing prices are rising overall, but metros depict different pictures.
Fedgazette , Volume 16 , Issue Nov , Pages 9-11

Working Paper
Do homeowners know their house values and mortgage terms?
Bucks, Brian K.; Pence, Karen M. (2006)
To assess whether homeowners know their house values and mortgage terms, we compare the distributions of these variables in the household-reported 2001 Survey of Consumer Finances (SCF) to the distributions in lender-reported data. We also examine the share of SCF respondents who report not knowing these variables. We find that most homeowners appear to report their house values and broad mortgage terms reasonably accurately. Some adjustable-rate mortgage borrowers, though, and especially those with below-median income, appear to underestimate or not know how much their interest rates could ...
Finance and Economics Discussion Series , Paper 2006-03

Journal Article
The effect of falling home prices on small business borrowing
Schweitzer, Mark E.; Shane, Scott (2010-12)
Small businesses continue to report problems in obtaining the financing they need. Because small business owners may rely heavily on the value of their homes to finance their businesses (through mortgages or home equity lines), the fall in housing prices might be one of the causes of their difficulty. We analyze information from a variety of sources and find that homes do constitute an important source of capital for small business owners and that the impact of the recent decline in housing prices is significant enough to be a real constraint on small business finances.
Economic Commentary , Issue Dec

Report
The supply side of the housing boom and bust of the 2000s
Sporn, John; Tracy, Joseph; Haughwout, Andrew F.; Peach, Richard (2012)
The boom and subsequent bust in housing construction and prices over the 2000s is widely regarded as a principal contributor to the Financial Panic of 2007 and the subsequent Great Recession. As of this writing, housing market activity remains at depressed levels as the economy slowly resolves the legacy of excess supply and sharply lower prices. Over 2.6 million foreclosures have been completed since 2008 and 1.9 million foreclosures are in process. Much has been written about the demand side of this pronounced housing cycle, in particular, the innovations in mortgage finance and the ...
Staff Reports , Paper 556

Working Paper
Unaffordable housing and local employment growth
Chakrabarti, Ritashree; Zhang, Junfu (2010)
High housing prices have caused concerns among policy makers as well as the public in many U.S. regions. There is a general belief that unaffordable housing could drive businesses away and thus impede job growth. However, there has been little empirical evidence that supports this view. In this paper, we clarify how housing affordability is linked to employment growth and why unaffordable housing could negatively affect employment growth. We empirically measure this effect using data on California municipalities and U.S. metropolitan areas and counties. It is argued that for various reasons a ...
New England Public Policy Center Working Paper , Paper 10-3

Journal Article
Construction and mortgage credit
anonymous (1959-09)
Federal Reserve Bulletin , Issue Sep , Pages 1091-1096

Conference Paper
Housing price changes
Rosen, Richard J. (2006)
Proceedings , Paper 1011

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