The Future of Housing in the United States
Author | : Claire Montgomery |
Publisher | : |
Total Pages | : 44 |
Release | : 2001 |
Genre | : Housing forecasting |
ISBN | : |
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Author | : Claire Montgomery |
Publisher | : |
Total Pages | : 44 |
Release | : 2001 |
Genre | : Housing forecasting |
ISBN | : |
Author | : United States. Congress. House. Committee on Financial Services |
Publisher | : |
Total Pages | : 96 |
Release | : 2015 |
Genre | : Federal aid to housing |
ISBN | : |
Author | : Adam J. Levitin |
Publisher | : Harvard University Press |
Total Pages | : 401 |
Release | : 2020-06-09 |
Genre | : Business & Economics |
ISBN | : 0674979656 |
The definitive account of the housing bubble that caused the Great Recession—and earned Wall Street fantastic profits. The American housing bubble of the 2000s caused the worst global financial crisis since the Great Depression. In this definitive account, Adam Levitin and Susan Wachter pinpoint its source: the shift in mortgage financing from securitization by Fannie Mae and Freddie Mac to “private-label securitization” by Wall Street banks. This change set off a race to the bottom in mortgage underwriting standards, as banks competed in laxity to gain market share. The Great American Housing Bubble tells the story of the transformation of mortgage lending from a dysfunctional, local affair, featuring short-term, interest-only “bullet” loans, to a robust, national market based around the thirty-year fixed-rate mortgage, a uniquely American innovation that served as the foundation for the middle class. Levitin and Wachter show how Fannie and Freddie’s market power kept risk in check until 2003, when mortgage financing shifted sharply to private-label securitization, as lenders looked for a way to sustain lending volume following an unprecedented refinancing wave. Private-label securitization brought a return of bullet loans, which had lower initial payments—enabling borrowers to borrow more—but much greater back-loaded risks. These loans produced a vast oversupply of underpriced mortgage finance that drove up home prices unsustainably. When the bubble burst, it set off a destructive downward spiral of home prices and foreclosures. Levitin and Wachter propose a rebuild of the housing finance system that ensures the widespread availability of the thirty-year fixed-rate mortgage, while preventing underwriting competition and shifting risk away from the public to private investors.
Author | : United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Insurance |
Publisher | : |
Total Pages | : |
Release | : 2016 |
Genre | : |
ISBN | : |
Author | : United States. Congress |
Publisher | : Createspace Independent Publishing Platform |
Total Pages | : 90 |
Release | : 2017-09-23 |
Genre | : |
ISBN | : 9781976548024 |
The future of housing in America : increasing private sector participation in affordable housing : hearing before the Subcommittee on Housing and Insurance of the Committee on Financial Services, U.S. House of Representatives, One Hundred Fourteenth Congress, first session, April 16, 2015.
Author | : United States. Congress |
Publisher | : Createspace Independent Publishing Platform |
Total Pages | : 90 |
Release | : 2017-12-03 |
Genre | : |
ISBN | : 9781981365647 |
The future of housing in America : increasing private sector participation in affordable housing : hearing before the Subcommittee on Housing and Insurance of the Committee on Financial Services, U.S. House of Representatives, One Hundred Fourteenth Congress, first session, April 16, 2015.
Author | : United States. Congress |
Publisher | : Createspace Independent Publishing Platform |
Total Pages | : 248 |
Release | : 2017-11-17 |
Genre | : |
ISBN | : 9781979798204 |
The future of housing in America : government regulations and the high cost of housing : hearing before the Subcommittee on Housing and Insurance of the Committee on Financial Services, U.S. House of Representatives, One Hundred Fourteenth Congress, second session, March 22, 2016.
Author | : United States. Congress. Joint Committee on Housing |
Publisher | : |
Total Pages | : 188 |
Release | : 1948 |
Genre | : Housing |
ISBN | : |
Author | : Lily M. Hoffman |
Publisher | : Routledge |
Total Pages | : 150 |
Release | : 2020-11-03 |
Genre | : Social Science |
ISBN | : 1000197247 |
How do Airbnb and short-term rentals affect housing and communities? Locating the origins and success of Airbnb in the conditions wrought by the 2008 financial crisis, the authors bring together a diverse body of literature and construct case studies of cities in the US, Australia and Germany to examine the struggles of local authorities to protect their housing and neighborhoods from the increasing professionalization and commercialization of Airbnb. The book argues that the most disruptive impact of Airbnb and short-term rentals has been on housing and neighborhoods in urban centers where housing markets are stressed. Despite its claims, Airbnb has revealed itself as platform capitalism, incentivizing speculation in residential housing. At the heart of this trajectory is its business model and control over access to data. In a first narrative, the authors discuss how Airbnb has institutionalized short-term rentals, consequently removing long-term rentals, contributing to rising rents and changing neighborhood milieus as visitors replace long-term residents. In a second narrative the authors trace the transformation of short-term rentals into a multibillion-dollar hybrid real estate sector promoting a variety of flexible tenure models. While these models provide more options for owners and investors, they have the potential to undermine housing security and exacerbate housing inequality. While the overall effects have been similar across countries and cities, depending on housing systems, local response has varied from less restrictive in Australia to increasingly restrictive in the United States and most restrictive in Germany. Although Airbnb has made some concessions, it has not given any city the data needed to efficiently enforce regulations, making for costly externalities. Written in a clear and direct style, this volume will appeal to students and scholars in Urban Studies, Urban Planning, Housing and Tourism Studies.
Author | : United States. Congress. House. Committee on Government Reform. Subcommittee on Federalism and the Census |
Publisher | : |
Total Pages | : 56 |
Release | : 2007 |
Genre | : Political Science |
ISBN | : |