HUD and Census Bureau: Residential Construction Activity in November 2017
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for November 2017. Building Permits: Privately owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,298,000. This is 1.4 percent (±1.7 percent)* below the revised…
Census Bureau: High School Completion Rate is Highest in U.S. History
For the first time in U.S. history, 90 percent of the population age 25 and older have completed high school. This is according to new Educational Attainment data released today from the U.S. Census Bureau. “In 1940, less than half of the population age 25 and older had a high school diploma. Over the years…
Census Bureau: Communting Times, Median Rents and Language other than English Use
New American Community Survey Statistics Provide Local Data for Every Community Nationwide DEC. 7, 2017 — The nation experienced an increase in commuting time, median gross rent and a rise in English proficiency among those who spoke another language. These are only a few of the statistics released today from the U.S. Census Bureau’s 2012-2016…
HUD: Homelessness Declines in Most Communities with Increases Reported in High-Cost Areas
Lack of affordable rental housing in Los Angeles and NYC driving increases nationally WASHINGTON – Homelessness crept up in the U.S., especially among individuals with long-term disabling conditions according to the latest national estimate by the U.S. Department of Housing and Urban Development (HUD). HUD’s 2017 Annual Homeless Assessment Report to Congress found that 553,742…
FHFA: Further Data Released on Non-Performing Loan Sales
The Federal Housing Finance Agency (FHFA) today released its fourth report providing information about the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac (the Enterprises). The Enterprise Non-Performing Loan Sales Reportincludes information about NPLs sold through June 30, 2017. It reflects borrower outcomes as of June 30, 2017, on NPLs sold through…
Federal Reserve: FEDS | Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks
Housing Bust, Bank Lending & Employment: Evidence from Multimarket Banks (PDF) David P. Glancy Abstract: I use geographic variation in bank lending to study how bank real estate losses impacted the supply of credit and employment during the Great Recession. Banks exposed to distressed housing markets cut mortgage and small business lending relative to other…
Census Bureau: Small Area Income and Poverty Estimates for Counties
In 2016, the median household income for all counties ranged between $22,045 and $134,609, with a median county-level value of $47,589, according to the new Small Area Income and Poverty Estimates report released today by the U.S. Census Bureau. Between 2007 (the year before the most recent recession) and 2016, 70 counties had a statistically…
FHFA: Index Shows Mortgage Rates Decreased in October 2017
Nationally, interest rates on conventional purchase-money mortgages decreased from September to October, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.98 percent for loans closed in late October, down 2 basis points from 4.00 percent in September….
Federal Reserve: FEDS | Bank Failures, Capital Buffers and Exposure to the Housing Market Bubble
Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble (PDF) Gazi I. Kara and Cindy M. Vojtech Abstract: We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis…
Federal Reserve: FEDS | On Intergenerational Immobility – Evidence that Adult Credit Health Reflects the Childhood Environment
March 2017 (Revised November 2017) On Intergenerational Immobility: Evidence that Adult Credit Health Reflects the Childhood Environment (PDF) Sarena Goodman, Alice Henriques, and Alvaro Mezza Abstract: Using a novel dataset that links socioeconomic background to future credit, postsecondary education, and federal student loan and grant records, we document that, even though it is not and…