RESEARCH AND COMMENTARY
Christopher B. Leinberger, November 25, 2011, The New York Times
The Great Recession has facilitated a shift away from far-flung auto-oriented suburbs to centralized pedestrian-friendly communities, says Christopher B. Leinberger. Leinberger examines what this shift means for developers, who will need to focus on meeting the growing demand for urban and inner-suburban housing. Read More
RESEARCH AND COMMENTARY
Bruce Katz, April 13, 2011, Michigan Conference on Affordable Housing
Following the housing collapse that precipitated the Great Recession, Bruce Katz urges federal leaders to decrease economic dependence on the housing sector by rebalancing the market. During an appearance at the Michigan Conference on Affordable Housing, Katz describes how metropolitan areas will benefit from fundamental changes to U.S. housing policy. Read More
RESEARCH AND COMMENTARY
Michal Grinstein-Weiss, Michael Sherraden, William G. Gale, William M. Rohe, Mark Schreiner and Clinton Key, March 04, 2011, The Brookings Institution
With the housing market still recovering from the subprime crisis, a key question for policymakers is how and whether to encourage homeownership and the role of down payments in the initial homeowner purchase. A new research paper co-authored by William Gale finds that Individual Development Accounts programs for low-income households, designed to help teach financial education and provide matching funds for qualified savings withdrawals, had no significant effect on homeownership rates after 10 years of implementation. Read More
RESEARCH AND COMMENTARY
Christopher B. Leinberger, November 10, 2010, The Avenue, The New Republic
Following a recent call from President Obama for ideas to create new jobs, Christopher Leinberger proposes looking to the real estate sector for a much-needed boost. However, the sprawl-based built environment that led to the current recession isn’t the solution. Leinberger urges smarter development for infrastructure and housing, moving metropolitan areas toward more walkable and sustainable communities. Read More
RESEARCH AND COMMENTARY
Christopher B. Leinberger, October 15, 2010, The Avenue, The New Republic
As front page news stories announce that banks have voluntarily frozen some mortgage foreclosures, Christopher Leinberger explores the roots of the mortgage crisis. He finds that overdevelopment on the fringes of metropolitan areas has led to steep drops in real estate values, while closer-in properties have fared better. Read More
VIDEO
Ted Gayer, September 10, 2010
The housing crisis of 2007 is still battering the overall American economy. Senior Fellow Ted Gayer examines the government policies enacted since the bust began and forecasts the future health of the housing sector, @ Brookings.
RESEARCH AND COMMENTARY
Karen Dynan, August 27, 2010, The Fiscal Times
Karen Dynan argues that homeownership shouldn’t be disregarded as a way for households to build wealth. Dynan says that arrangements allowing households to pre-commit to saving, like traditional mortgages, are a powerful incentive to carry through with saving, particularly for low-income households. Read More
RESEARCH AND COMMENTARY
Ted Gayer, July 21, 2010, The Brookings Institution
Ted Gayer examines the latest number coming from Obama administration’s Home Affordable Modification Program. Analysis finds that the program has only delayed - not prevented - an inevitable increase in housing supply stemming from foreclosures. Read More
RESEARCH AND COMMENTARY
Mark Muro and Kenan Fikri, June 23, 2010, The Avenue, The New Republic
Metropolitan areas in the Mountain West region continue to hope growth in their real estate and construction sectors will jump-start broader job growth. Mark Muro and Kenan Fikri suggest they may have things backwards, and urge leaders in the region and adopt a new economic model that puts exports, low-carbon business growth, and innovation first. They emphasize that a move into this “next economy” will bring more lasting job growth and a more sustainable housing durable recovery. Read More
RESEARCH AND COMMENTARY
Ted Gayer, April 16, 2010, The Brookings Institution
The Obama administration released the latest update on the Home Affordable Modification Program, its key foreclosure prevention policy program. The data suggest that even the borrowers who qualify for the permanent modifications might have difficulty making their loan payments, writes Ted Gayer. 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 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
RESEARCH AND COMMENTARY
Ted Gayer, October 14, 2009, The Brookings Institution
Ted Gayer addresses the potential cost of a home buyer tax credit in light of the Congressional Joint Committee on Taxation’s cost estimate and still concludes that the credit would be a poorly targeted subsidy, even if the program is smaller and shorter in duration. Read More
RESEARCH AND COMMENTARY
Ted Gayer, October 09, 2009, The Brookings Institution
The housing market, while showing some signs of recovery, is still weak, which is why policymakers are considering more ways to support it. One idea is to extend and expand the homebuyers tax credit. Ted Gayer says the proposal is misguided, poorly targeted and very expensive. Read More
RESEARCH AND COMMENTARY
Ted Gayer, September 24, 2009, The Brookings Institution
Today’s existing-home sales numbers, which were below expectations, show that the housing market is still soft. Moves by the Fed to phase out its mortgage-backed security program may lead to increased mortgage interest rates, says Economic Studies Co-Director Ted Gayer. But he says the first-time homebuyer tax credit is expensive, poorly targeted and should not be extended. Read More