Category Archives: Housing and housing finance

Housing Finance Today

Ike Brannon writes, The private market for mortgage-backed securities all but dried up in the aftermath of the Great Recession, so Fannie and Freddie are the only games in town. If they won’t buy a mortgage–or if there is any … Continue reading

Posted in Housing and housing finance | 8 Comments

Landlords and Speculators, Again

Some good comments on the earlier post, better than it deserved. I regret writing that mortgage lenders and owners are on the opposite end of a transaction. It is more apt to say, as Kevin Erdmann pointed out, that the … Continue reading

Posted in Housing and housing finance | 4 Comments

Landlords as Speculators

Adam Ozimek writes, I wonder what housing investment skeptics [sic] Robert Shiller thinks of people who make their livings as landlords. How does this irrational, money losing market exist? After all, if you can’t make a profit by buying a … Continue reading

Posted in Housing and housing finance, Tyler Cowen is my Favorite Blogger | 20 Comments

Tax Luxury Homes?

Adam Ozimek wrote, Taxing housing wealth is also efficient compared with taxing other kinds of wealth because it’s impossible to move and difficult to hide. If you tax financial wealth, you have to worry that wealthy households will park their … Continue reading

Posted in Housing and housing finance, Tyler Cowen is my Favorite Blogger | 20 Comments

The Real Estate Lobby, Acting Local

A commenter asks, aren’t Real Estate lobbies most powerful with local governments? The local and national lobbies work very differently. Locally, the commercial real estate developers are the most active. And often it’s case by case, as opposed to policy … Continue reading

Posted in Housing and housing finance | 2 Comments

Housing Markets with Income Constraints

Alex Tabarrok writes, owner’s equity in real estate is about to exceed it’s 2006 peak I get the sense that in the cities most constrained by housing supply, markets are very hot at a price just below, say, $1 million, … Continue reading

Posted in Housing and housing finance | 11 Comments

Preach it, brother John

John Cochrane writes, there is a deep lesson in their style of modeling: Heterogeneity. Misallocation. Dispersion. Inequality. The key lesson is not that “regulation is killing US firms on average.” The US as a whole is doing badly because firms … Continue reading

Posted in Housing and housing finance, PSST and Macro | 13 Comments

Land prices in San Francisco

Robert L. Cutts writes, Homes… now sell for 15 times the average salaried worker’s annual gross wage. Even small condominium units… sell for nearly 10 years’ pay. First-time buyers would have to contract 50- to 90-year mortgages to make the … Continue reading

Posted in Economic History, Housing and housing finance | 13 Comments

Non-bank Mortgage Lending

Greg Buchak and others write, the market share of shadow banks in the mortgage market has nearly tripled from 14% to 38% from 2007-2015. In the Federal Housing Administration (FHA) mortgage market, which serves less creditworthy borrowers, the market share … Continue reading

Posted in Housing and housing finance | 7 Comments

The outlook for today’s young adults

Joel Kotkin and Wendell Cox write, They have entered an economy where the most rapid job growth for their generation has been in generally low-paying professions, such as leisure/hospitality and healthcare, while jobs in higher-paying fields such as information, finance, … Continue reading

Posted in Housing and housing finance, income distribution-wealth-poverty | 19 Comments