Looking Ahead Toward the Housing Crisis

Doms, Mark and Meryl Motika. 2006. “The Rise of Homeownership.” Federal Reserve Bank of San Francisco Economic Letter (3 November).


http://www.frbsf.org/publications/economics/letter/2006/el2006-30.html
“After decades of relative stability, the rate of U.S. homeownership began to surge in the mid-1990s, rising from 64% in 1994 to a peak of 69% in 2004, near which it has hovered ever since . . . [S]ome of the explanation likely stems from innovations in the mortgage market that resulted in greater access to credit, lower down payment requirements, and easy and low-cost access to the equity in a house, which makes homeownership more attractive.”
Thanks to an old Timothy Taylor column in the Journal of Economic Perspectives

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: