VIDEO
Karen Dynan and Alan Berube, November 15, 2009
Despite the economy’s expansion last quarter, many American workers still lack jobs, the confidence to spend money or a home to call their own. Brookings scholars have been tracking data on various dimensions of national and international well-being since early this year. Karen Dynan and Alan Berube examine the findings in the second Brookings “How We’re Doing” Index.
RESEARCH AND COMMENTARY
Karen Dynan, Ted Gayer and Alan Berube, November 15, 2009, The Brookings Institution and The Washington Post
Despite the economy’s expansion in the last quarter, many American workers still lack jobs, the confidence to spend or a home to call their own. A team of Brookings experts began tracking data early this year to assess various dimensions of national and international well-being. The second quarterly "How We’re Doing" index looks at forces that stand in the way of a strong rebound and asks, "where are we going?" Read More
PAST EVENT
Wednesday, November 11, 2009
12:30 PM to 1:30 PM
Washington, DC
President Obama approved the expansion and extension of the homebuyer tax credit initially approved as part of the economic stimulus package. While this move is intended to spur home sales, many experts argue that extending the tax credit is bad policy. On Wednesday, November 11, Ted Gayer and Politico Senior Editor Fred Barbash will be online to answer your questions about the homebuyer tax credit in a live web chat. Read More
RESEARCH AND COMMENTARY
Ted Gayer, November 11, 2009, The Brookings Institution
On Wednesday, November 11, Ted Gayer and Fred Barbash participated in a live web chat on the extended homebuyer tax credit, debating whether or not President Obama should have let it expire. Read More
RESEARCH AND COMMENTARY
Larry Cordell, Karen Dynan, Andreas Lehnert, Nellie Liang and Eileen Mauskopf, October 30, 2009, Federal Reserve Board: Finance and Economics Discussion Series
In order to shore up the housing market and prevent foreclsoures, the government has instituted the Home Affordable Modification Program (HAMP). Larry Cordell, Karen Dynan, Andreas Lehnert, Nellie Liang and Eileen Mauskopf find that HAMP's key features should alleviate some of the previous obstacles to successful loan modifications. But, they say, the program is not well-suited to address payment problems associated with job loss, and they believe focusing on reducing payments rather than principal is ineffective when the homeowner has negative equity, with short sales being a better option. Read More
VIDEO
Ted Gayer, September 25, 2009
New U.S. home sales were flat in August and existing home sales fell, showing that the housing sector still remains weak. Ted Gayer, co-director of Economic Studies, says there has been some housing stabilization thanks to the Federal Reserve, but that there is still downside risk in the market. Costly tax incentives to encourage homeownership have long-term budget consequences.
VIDEO
Ted Gayer, September 02, 2009
It’s been one year since Fannie Mae and Freddie Mac had to be taken over by the government to prevent their collapse. Ted Gayer talks about what went wrong and why these government-sponsored enterprises were treated as "too big to fail."
RESEARCH AND COMMENTARY
Gary Burtless, July 14, 2009, National Journal
For many years, economists and other experts have bemoaned American consumers’ unwillingness to save. Now Americans are saving once again, and observers worry that too much saving translates directly into too little consumer demand. Gary Burtless examines whether consumer saving was too low in the past and whether this new saving pattern will continue.
Read More
RESEARCH AND COMMENTARY
Alan Mallach, June 05, 2009, The Brookings Institution
Facing the worst foreclosure crisis since the Great Depression, the state of Ohio has responded by focusing on helping individuals keep their homes. Ohio must direct more attention and more resources to the devastating effects that foreclosures are having on entire communities, from the urban neighborhoods of Cleveland or Cincinnati to suburban and rural communities across the state. Read More
RESEARCH AND COMMENTARY
Alan Berube and Alan Mallach, February 09, 2009, The Brookings Institution
The final House-Senate compromise on the economic recovery package offers no boost for HUD’s Neighborhood Stabilization Program, established last year to help state and local governments mitigate the impact of foreclosures. Alan Berube and Alan Mallach argue that additional funds for the program (part of the House proposal omitted in the final bill) would provide much-needed assistance to local communities. Read More
RESEARCH AND COMMENTARY
Alan Mallach, February 03, 2009, The Brookings Institution
The wave of home mortgage foreclosures that began in 2006 continues to surge, greatly destabilizing neighborhoods, towns, and cities across the United States. However, the federal government has played a limited role to date in blunting its effects. This Blueprint policy brief argues for carefully-targeted federal policies to assist states and localities in mitigating the community-level impacts of foreclosure, and creating the conditions for ultimate housing market recovery. Read More
RESEARCH AND COMMENTARY
Frank S. Alexander, October 28, 2008, The Brookings Institution
A new Blueprint paper argues that the rising number of vacant and abandoned properties around the nation requires a more robust drive by the federal government to aid states and localities in land banking. The author, Frank Alexander of Emory University, recommends that federal policy should better capitalize local and regional land banking (the process or policy by which local governments acquire surplus properties and convert them to productive use), encourage code reform and regional collaboration. Read More
VIDEO
Barry P. Bosworth, October 14, 2008
The federal government’s decision to take equity stakes in private banks to help shore up the battered economy is a step in the right direction, Barry Bosworth says, and he adds that more needs to be done – particularly on the housing front.
RESEARCH AND COMMENTARY
Martin Neil Baily and Robert E. Litan, October 10, 2008, The Brookings Institution
With fears of a global recession pounding markets worldwide, many are watching closely to see if the U.S. Treasury can quickly implement the recent bailout package in a way that stabilizes the financial markets and unfreezes credit. Brookings experts Martin Baily and Robert Litan take a look at the Treasury Department’s chances of success and argue that the omens thus far are “not encouraging." Read More
RESEARCH AND COMMENTARY
Martin Neil Baily, October 06, 2008, The Brookings Institution
As part of our ongoing series covering the financial crisis, Martin Baily, director of IBPP delivered a presentation at the NABE Meeting on October 6, 2008 on the cause of the current financial crisis and the domino effect that permeated the financial markets, and provided measures to be implemented to prevent another financial institution meltdown. Read More