Category Archives: Housing and housing finance

Kevin Erdmann on housing in 2006-2008

He responds to my post. So, in the highest priced cities, middle class buyers were an insignificant part of the market, but when prices in those cities shot up and then collapsed, our main policy response was to prevent middle … Continue reading

Posted in Housing and housing finance | 19 Comments

The housing bubble and speculators, once again

Commenter Handle is skeptical of the revisionist view that investor loans rather than subprime lending fueled the housing bubble and bust. how does debt to high risk borrowers stay constant while everyone knows that underwriting standards dropped a lot? Why … Continue reading

Posted in Housing and housing finance | 22 Comments

Sub-prime crisis or speculator crisis?

Stefania Albanesi, Giacomo De Giorgi, and Jaromir Nosal write, A broadly accepted view contends that the 2007-09 financial crisis in the U.S. was caused by an expansion in the supply of credit to subprime borrowers during the 2001- 2006 credit … Continue reading

Posted in Housing and housing finance | 7 Comments

House Prices in the 21st Century

Alex Tabarrok writes, Over the entire 20th century, housing prices never once roce above 131, the 1989 peak. But beginning around 2000 house prices seemed to reach for an entirely new equilibrium. In fact, even given the financial crisis, prices … Continue reading

Posted in Housing and housing finance | 4 Comments

Sales of homes to foreign buyers

CNN Money reports, The National Association of Realtors released a report Tuesday that said foreign buyers and recent immigrants spent an estimated $153 billion on American properties in the year ending March 2017. That was a 49% increase over the … Continue reading

Posted in Housing and housing finance, Scott Sumner is Coherent, trade and immigration | 17 Comments

The state of the housing market(s)

About a month ago, the Harvard joint center for housing studies released a report. Lots of interesting stuff. housing completions in the past 10 years totaled just 9.0 million units—more than 4.0 million units less than in the next-worst 10-year … Continue reading

Posted in Housing and housing finance | 11 Comments

Happy 4th of July

Here is a story on how local regulations impede homebuilding in California. More than two-thirds of California’s coastal communities have adopted measures — such as caps on population or housing growth, or building height limits — aimed at limiting residential … Continue reading

Posted in Housing and housing finance | 6 Comments

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