Search Results
Journal Article
Intergenerational Homeownership and Mortgage Distress
Rates of US homeownership have declined in the past two decades, and the decline has been especially pronounced for young adults. Motivated by recent research that explores the ways in which personal experiences can affect financial attitudes and beliefs, we explore whether the negative homeownership experiences of parents during the 2008 financial crisis could have caused their children to view homeownership less favorably. We find that parental mortgage distress negatively correlates with the probability that a child will purchase a home, and we explore various channels through which this ...
Journal Article
Home-Ownership Center on Wheels
Freddie Mac, Chase Home Finance and The Community College Foundation are sponsoring an innovative program called the Chase Home Finance Mobile Homeownership Center.
Journal Article
Regulations
The Federal Reserve, HUD and the Federal Trade Commission, among others, implement regulations that address many abusive lending practices.
Journal Article
San Antonio Tackles Foreclosure
A look-to city for programs to help low- and moderate-income working families build assets, San Antonio has taken on the challenge of homeownership preservation.
Journal Article
Overview of the Section 8 home-ownership option
Seeking to promote affordable housing for low-income families, Congress created the home-ownership option for families receiving Section 8 tenant-based assistance. The Department of Housing and Urban Development (HUD) issued its final rule implementing the Section 8 home-ownership program on October 12, 2000.e-Perspectives asked Roman Palomares, deputy director of HUD's Office of Public Housing in Fort Worth, Texas, to provide an overview of the program. Here's what he had to say.
Working Paper
Homeownership and the Distributional Effects of Local Shocks
I develop a dynamic quantitative spatial framework that combines key features of quantitative spatial and lifecycle housing models to study the distributional effects of spatially heterogeneous shocks. The model features many locations, moving costs, uninsurable income risk, lifecycle dynamics, housing tenure choice and housing frictions. The model is set in continuous time, which enables efficient computation. I apply the framework to analyze the welfare effects of heterogeneous productivity shocks across U.S. cities. I find that local productivity shocks have important distributional ...
Speech
Remarks at the Summit REO and Vacant Properties: Strategies for Neighborhood Stabilization
A speech delivered by Charles Evans before the Summit on REO and Vacant Property Strategies for Neighborhood Stabilization on September 1, 2010, in Washington, DC.
Working Paper
Credit Score Doctors
We study how the existence of cutoffs in credit scores affects the behavior of homebuyers. Borrowers are more likely to purchase houses after their credit scores cross over a cutoff to qualify them for a higher credit score bin. However, the credit accounts of these individuals (crossover group) are more likely to become delinquent within four years following home purchases than the accounts of those who had stayed in the same bin (non-crossover group). The effect is not only concentrated in subprime bins, but in other bins as well. It is neither limited to pre-crisis period nor curtailed by ...
Journal Article
Despite Price Pressures, Nebraska Households Have Maintained a Savings Buffer
Despite some persistent inflationary pressures, strong income growth has positioned Nebraska households to weather the pressures better than many other places. Nationally, households have faced elevated costs and depleted savings buffers over the past several years. However, Nebraskans have maintained exceptionally high savings rates—nearly double the national average. This savings advantage has had the potential to compound significantly, making major purchases such as housing somewhat more attainable for Nebraska households.
Journal Article
Generational Gaps in Income and Homeownership
At age 30, non-college-educated Boomers were about twice as likely as non-college-educated Millennials to own homes.