A major policy response to the 2008 housing crisis was the First-time Homebuyer Tax Credit, worth up to $8,000. To estimate the tax credit effects on homeownership, I construct a quarterly first-time homebuyer time-series using American Housing Survey data. Using both an event-study and a...

The Tax Cut and Jobs Act (TCJA) altered the tax code, greatly reducingitemization rates. Utilizing American Community Survey data combinedwith the NBER TAXSIM program, we calculate the TCJA caused theaverage homeownership subsidy to decline by 56% from $2,677 in 2017 to$1,171 in 2018. Comparing...