Search Results

Showing results 1 to 10 of approximately 23.

(refine search)
Keywords:Real estate investment 

Housing and the economic recovery

Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.
Speech , Paper 73

The U.S. financial system: where we have been, where we are and where we need to go

Remarks at the Reserve Bank of Australia's 50th Anniversary Symposium, Sydney, Australia.
Speech , Paper 12

Real estate investors, the leverage cycle, and the housing market crisis

We explore a mostly undocumented but important dimension of the housing market crisis: the role played by real estate investors. Using unique credit-report data, we document large increases in the share of purchases, and subsequently delinquencies, by real estate investors. In states that experienced the largest housing booms and busts, at the peak of the market almost half of purchase mortgage originations were associated with investors. In part by apparently misreporting their intentions to occupy the property, investors took on more leverage, contributing to higher rates of default. Our ...
Staff Reports , Paper 514

Working Paper
Time and risk diversification in real estate investments: assessing the ex post economic value

Welfare gains to long-horizon investors may derive from time diversification that exploits non-zero intertemporal return correlations associated with predictable returns. Real estate may thus become more desirable if its returns are negatively serially correlated. While it could be important for long horizon investors, time diversification has been mostly investigated in asset menus without real estate and focusing on in-sample experiments. This paper evaluates ex post, out-of-sample gains from diversification when E-REITs belong to the investment opportunity set. We find that diversification ...
Working Papers , Paper 2009-001

Journal Article
Real estate could pose challenges for some banks

The Southeast's banking industry overall is in good shape, with healthy earnings and capital levels. But upheaval in the region's real estate markets could pose challenges to institutions.
Financial Update , Volume 20 , Issue 3

Working Paper
Addressing the prevalence of real estate investments in the new markets tax credit program

Community Development Investment Center Working Paper , Paper 2008-04

A bit better, but very far from best

Remarks at the Fordham Corporate Law Center Lecture, New York.
Speech , Paper 2

The U.S. economic outlook

Remarks at the Washington and Lee University H. Parker Willis Lecture in Political Economics, Lexington, Virginia.
Speech , Paper 20

Defaults and losses on commercial real estate bonds during the Great Depression era

We employ a unique data set of public commercial real estate (CRE) bonds issued during the Great Depression era (1920-32) to determine their frequency of default and total loss given default. Default rates on these bonds far exceeded those originated in subsequent periods, driven in part by the greater economic stress of the Depression as well as the lower level of financial sophistication of investors and structures that prevailed in 1920-32. Our results confirm that making loans with higher loan-to-value ratios results in higher rates of default and loss. They also support the business ...
Staff Reports , Paper 544

An update on the status of the economy and its implications for monetary policy

Remarks for the Annual Joint Luncheon of Commercial Real Estate Women Dallas and North Texas Certified Commercial Investment Members, Dallas, Texas, August 16, 2006 ; "In determining future policy, my colleagues and I will watch and listen and "taste" the indicators carefully as they come in. And, as we said at the conclusion of our last FOMC meeting, we will act accordingly. If anybody tells you with absolute conviction that the Fed is done raising interest rates or with equal conviction that they have only paused and will raise rates more starting in September or October, remind ...
Speeches and Essays , Paper 68


FILTER BY Content Type

Journal Article 12 items

Speech 6 items

Working Paper 3 items

Report 2 items

FILTER BY Keywords

Real estate investment 23 items

Banks and banking 3 items

Economic conditions 3 items

Mortgage loans 3 items

Mortgages 3 items

Real estate development 3 items

show more (66)