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Journal Article
Do hispanic neighborhoods in Chicago promote or hinder homeownership opportunities?
Toussaint-Comeau, Maude; Newberger, Robin G. (2004-12)
Hispanics are one of the fastest-growing populations in the nation, yet they have one of the lowest rates of homeownership of all racial/ethnic groups. For a large proportion of Hispanic immigrants, particularly those from Mexico and other Latin American countries, housing needs remain critical. Researchers have found that Latino immigrants living in metropolitan areas are much more likely to live in crowded and severely inadequate housing and/or to experience a severe housing cost burden. While homeownership may not be the answer for all immigrants, it is an important aspect of the social ...
Profitwise , Issue Dec , Pages 24-25

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
Is the rate of homeownership nearing a bottom?
Bullard, James B. (2009-10)
The Regional Economist , Issue Oct , Pages 3

Journal Article
Federal Reserve : The CRA and the subprime crisis
Haltom, Renee Courtois (2010-10)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q4/federal_reserve_weblinks.cfm
Econ Focus , Volume 14 , Issue 4Q , Pages 6-9

Journal Article
Recent trends in homeownership
Gavin, William T.; Garriga, Carlos; Schlagenhauf, Don E. (2006-09)
The homeownership rate began to trend upward in 1995 after years of being relatively constant, near 64 percent. This article describes recent changes in the share of U.S. housing that is owner-occupied and explores the reasons for the surprising rise over the past decade. Explanations that have been offered include demographics, low mortgage rates, changes in housing policy, and innovations in the mortgage financial market. Of all these explanations, the most plausible one is that innovations in the financial markets increased access to mortgage finance, mainly by reducing downpayment ...
Review , Volume 88 , Issue Sep , Pages 397-412

Journal Article
Buy a home or rent? A better way to choose
Zaman, Saeed; Ergungor, O. Emre (2011-04)
Knowing whether buying a home is a better financial move for a family than renting requires a consideration of costs and options that people often neglect to factor in. One aspect of the calculation that is almost always overlooked is uncertainty--the fact that no matter how good one's estimates of the future are, the future can turn out differently than projected. Incorporating uncertainty into the rent-or-buy calculation gives potential homebuyers information that can improve their decisions. While incorporating uncertainty is complicated, it's made easier with the Cleveland Fed's online ...
Economic Commentary , Issue Apr

Report
The homeownership gap
Peach, Richard; Tracy, Joseph; Haughwout, Andrew F. (2009)
After rising for a decade, the U.S. homeownership rate peaked at 69 percent in the third quarter of 2006. Over the next two and a half years, as home prices fell in many parts of the country and the unemployment rate rose sharply, the homeownership rate declined by 1.7 percentage points. An important question is, how much more will this rate decline over the current economic downturn? To address this question, we propose the concept of the "homeownership gap" as a gauge of downward pressure on the homeownership rate. We define the homeownership gap as the difference between the ...
Staff Reports , Paper 418

Speech
Revisiting traditional paths to ownership: a speech at the Community Development Policy Summit, Federal Reserve Bank of Cleveland, Cleveland, Ohio, June 23, 2005
Olson, Mark W. (2005)
Speech , Paper 112

Journal Article
Variations on an American dream: alternative homeownership models
Graves, Erin (2011)
With homeownership central to the national economy and U.S. housing policy, the drop in homeownership rates could have long-term negative consequences. A growing body of research argues that alternative homeownership products, such as limited equity cooperatives and lease-to-own models, can offer participants many of the benefits of ownership while reducing some risks. However, these models are not widely implemented or understood. This article asks experts in the housing field about the prospects of greater adoption of these models.
New England Community Developments

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