108 posts on "Housing"
February 12, 2016
Just Released: Household Debt Grew Slowly in 2015 as Mortgage Balances Stayed Flat
This morning, New York Fed President William Dudley spoke to the press about the growing resilience of the U.S. household sector. His speech was followed by a briefing by New York Fed economists on developments in household borrowing. Their presentation included a detailed decomposition on mortgage borrowing and payment trends, and some new research on how borrowing has evolved differently across age groups. Today, the New York Fed also released the Quarterly Report on Household Debt and Credit for the fourth quarter of 2015. The report, the press briefing, and the following analysis are all based on the New York Fed Consumer Credit Panel, which is itself based on consumer credit data from Equifax.
February 8, 2016
Has MBS Market Liquidity Deteriorated?
Rich Podjasek, Linsey Molloy, Michael J. Fleming, and Andreas Fuster Mortgage-backed securities guaranteed by the government-backed entities Fannie Mae, Freddie Mac, and Ginnie Mae, or so-called “agency MBS,” are the primary funding source for U.S. residential housing. A significant deterioration in the liquidity of the MBS market could lead investors to demand a premium for […]
November 5, 2015
How Did Quantitative Easing Interact with Regional Inequality?
Income, or wealth, inequality is not something that central bankers generally worry about when setting monetary policy, the goals of which are to maintain price stability and promote full employment.
Posted at 7:05 am in Household Finance, Housing, Inequality, Macroeconomics, Monetary Policy, Regional Analysis, Unemployment | Permalink
November 4, 2015
Differences in Rent Inflation by Cost of Housing
We know that different people experience different inflation rates because the bundle of goods and services that they consume is different from that of the “typical” household.
October 15, 2015
Evaluating the Rescue of Fannie Mae and Freddie Mac
In September 2008, the U.S. government engineered a dramatic rescue of Fannie Mae and Freddie Mac, placing the two firms into conservatorship and committing billions of taxpayer dollars to stabilize their financial position.
August 24, 2015
Rethinking Mortgage Design
John Campbell, Andreas Fuster, David O. Lucca, Stijn Van Nieuwerburgh, and James Vickery Because mortgages make up the majority of household debt in most developed countries, mortgage design has important implications for macroeconomic policy and household welfare. As one example, most U.S. mortgages have fixed interest rates—if interest rates fall, existing borrowers need to refinance […]
August 13, 2015
Just Released: Releveraging the Consumer Credit Panel with Two New Charts
Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw Our Consumer Credit Panel, which is based on data from the Equifax credit reporting agency, first arrived at the New York Fed in 2009, and our very first Quarterly Report on Household Debt and Credit was published in August 2010, five years ago this month. We’ve continued […]
July 15, 2015
A Discussion of Thomas Piketty’s Capital in the Twenty‑First Century: Does More Capital Increase Inequality?
My aim in the second post of this series on Thomas Piketty’s Capital in the Twenty-First Century is to talk about the economist’s research accomplishment in reconstructing capital-output ratios for developed countries from the Industrial Revolution to the present and using them to explain why wealth inequality will rise in developed countries.
July 8, 2015
How Sensitive Is Housing Demand to Down Payment Requirements and Mortgage Rates?
When a household is looking to buy a home, financial considerations are usually very important.
May 28, 2015
Just Released: 2015 SCE Housing Survey Shows Households Optimistic about Housing Market
The Federal Reserve Bank of New York today released results from its 2015 SCE Housing Survey.
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