Federal Reserve: Is The Rent Too High? Aggregate Implications of Local Land-Use Regulation
June 2017 Is the Rent Too High? Aggregate Implications of Local Land-Use Regulation (PDF) Devin Bunten Abstract: Highly productive U.S. cities are characterized by high housing prices, low housing stock growth, and restrictive land-use regulations (e.g., San Francisco). While new residents would benefit from housing stock growth in cities with highly productive firms, existing residents…
HUD: National Homeownership Month Kicks Off
WASHINGTON – The Trump Administration proclaimed June as National Homeownership Month, a time to reflect upon the impact owning a home has on household wealth, neighborhood stability and the nation’s broader economic health. The theme of National Homeownership Month 2017 is “Find Your Place in a New Era of Homeownership.” Read the President’s Homeownership Month Proclamation….
FHFA: Index Shows Mortgage Rates Decreased in April 2017
Washington, DC – Nationally, interest rates on conventional purchase-money mortgages decreased from March to April, 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 3.97 percent for loans closed in late April, down 15 basis points from 4.12…
FHFA: U.S. House Prices Rise 1.4 Percent in First Quarter
Washington, D.C. – U.S. house prices rose 1.4 percent in the first quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.0 percent from the first quarter of 2016 to the first quarter of 2017. FHFA’s seasonally adjusted monthly index for March was up 0.6 percent…
HUD: Trump Administration Proposes 2018 HUD Budget
WASHINGTON – The Trump Administration today announced the proposed 2018 Budget for the U.S. Department of Housing and Urban Development (HUD). The Budget reflects the President’s commitment to support HUD’s critical functions that provide rental assistance to low-income and vulnerable households and to help work-eligible families achieve self-sufficiency. The President’s 2018 Budget continues to provide…