Are Rising Home Values Restraining Homebuying for Lower-Income Families?

Neil Bhutta, Steven Laufer () and Daniel R. Ringo
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Daniel R. Ringo: https://www.federalreserve.gov/econres/daniel-r-ringo.htm

No 2017-09-28-2, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Since bottoming out in 2012, house prices in the U.S. have recovered rapidly. According to Zillow, the median home value has been growing about 6 percent per year. While incomes have also been recovering, they have not quite kept pace with home prices. This note uses data reported under the Home Mortgage Disclosure Act (HMDA), along with income data from the ACS, and house price data from Zillow, to explore whether families in such areas, particularly lower-income families, are being priced out of homeownership as a result.

Date: 2017-09-28
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2017-09-28-2

DOI: 10.17016/2380-7172.2078

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