The Effects of Flood Damage on the Subsidy Cost of Federally Backed Mortgages: Working Paper 2024-04

Evan Herrnstadt and Byoung Hark Yoo

No 60167, Working Papers from Congressional Budget Office

Abstract: This paper uses data on mortgages and expected flood damage for each residential property in the United States to examine how much flood damage is expected to increase the cost of federally backed mortgages (referred to as the subsidy cost). The Congressional Budget Office uses its estimate of the subsidy cost to determine the budgetary effects of mortgages guaranteed directly by the federal government and through entities such as Fannie Mae and Freddie Mac. The analysis focuses only on costs to the federal mortgage programs and does not consider any costs borne by

JEL-codes: G21 H60 H81 Q54 (search for similar items in EconPapers)
Date: 2024-07-08
New Economics Papers: this item is included in nep-ban, nep-env and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:cbo:wpaper:60167

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