FHA First-Time Buyer Homeownership Sustainability: An Update

Donghoon Lee and Joseph Tracy

No 20231130, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: An important part of the mission of the Federal Housing Administration (FHA) is to provide affordable mortgages that both promote the transition from renting to owning and create “sustainable” homeownership. The FHA has never defined what it means by sustainability. However, we developed a scorecard in 2018 that tracks the long-term outcomes of FHA first-time buyers (FTBs) and update it again in this post. The data show that from 2011 to 2016 roughly 21.8 percent of FHA FTBs failed to sustain their homeownership.

Keywords: first-time; home; buyers (search for similar items in EconPapers)
JEL-codes: D14 (search for similar items in EconPapers)
Date: 2023-11-30
New Economics Papers: this item is included in nep-ure
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