Search Results
Working Paper
Land Bank 2.0: an empirical evaluation
Cuyahoga County created a land bank in 2009 explicitly intended to acquire low-value properties, mitigate blighted housing, help stabilize neighborhoods, and slow the decline of property values. This paper evaluates the effectiveness of the land bank by estimating spatially-corrected hedonic price models using sales near the land bank homes. Homes that sold within 500 feet of a property that would be acquired by the land bank in the next six months show a 3 to 5 percent discount versus observationally similar homes. Homes that sold within 500 feet of a land bank owned home sold at prices ...
Discussion Paper
Declines in Low-Cost Rented Housing Units in Eight Large Southeastern Cities
From the last quarter of 2012 to the last quarter of 2015, median rents rose 23.4 percent in the South, according to the Census Bureau. Accordingly, an increasing number of households in the South are cost-burdened, which is defined as a household spending more than 30 percent of its income on housing. A growing number of households spend over 50 percent of their income on rent, making them severely cost-burdened. The percentage of such severely cost-burdened households with incomes below $35,000 reached 80 percent in 2014 in eight central cities in the Southeast (Atlanta, Birmingham, ...
Journal Article
The impacts of new neighborhoods on poor families: evaluating the policy implications of the moving to opportunity demonstration
This paper was presented at the conference "Policies to Promote Affordable Housing," cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy, February 7, 2002. It was part of Session 3: The Impact of Housing on People and Places.
Journal Article
Conference explores interaction between housing and economy
Economists and housing experts came together recently at the Atlanta Fed to examine how housing finance and policy affect the larger economy and how the larger economy affects housing.
Journal Article
Preservation first
This paper was presented at the conference "Policies to Promote Affordable Housing," cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy, February 7, 2002. It was part of Session 5: Remarks on the Future of Housing Policy.
Journal Article
Comparing the costs of federal housing assistance programs
This paper was presented at the conference "Policies to Promote Affordable Housing," cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy, February 7, 2002. It was part of Session 4: Housing Subsidies and Finance.
Speech
The national and regional economic outlook
Remarks at Fordham University's Gabelli School of Business, Bronx, New York.
Journal Article
Neighborhood housing dervices of Chicago homeownership preservation iinitiative
On Wednesday, September 3, 2003, the Federal Reserve Bank of Chicago hosted a breakfast meeting at which Neighborhood Housing Services (NHS) of Chicago made a presentation on the progress of HOPI, the Home Ownership Preservation Initiative. HOPI, officially launched in April of 2003, is a partnership between the City of Chicago, NHS and key financial institutions who conduct business in Chicago, including General Motors Acceptance Corporation?Residential Funding Corporation (GMAC-RFC), Chase Manhattan Mortgage Corp., Bank One Corp., LaSalle Bank, Harris Trust and Savings Bank, Bank of America ...
Discussion Paper
Declines in Low-Cost Rented Housing Units in Eight Large Southeastern Cities
From the last quarter of 2012 to the last quarter of 2015, median rents rose 23.4 percent in the South, according to the Census Bureau. Accordingly, an increasing number of households in the South are cost-burdened, which is defined as a household spending more than 30 percent of its income on housing. A growing number of households spend over 50 percent of their income on rent, making them severely cost-burdened. The percentage of such severely cost-burdened households with incomes below $35,000 reached 80 percent in 2014 in eight central cities in the Southeast (Atlanta, Birmingham, ...
Discussion Paper
The quality of FHA lending in Pennsylvania, New Jersey, and Delaware
The Federal Housing Administration (FHA), an agency within the Department of Housing and Urban Development (HUD), insures mortgage loans made by private lenders. All FHA-insured borrowers pay mortgage insurance as one of the terms of their mortgage loan, and this insurance protects the lender against losses if the borrower defaults. In addition to providing a mortgage guarantee, the FHA single-family loan program has features such as a low down payment and a low minimum credit score that benefit borrowers who may not be able to obtain financing in the conventional market. Because of the FHA?s ...