Though Congress and Presidents Bush and Obama put forth several different mortgage modification programs, the rate of foreclosures has continued to rise over the past several years. According to CoreLogic, about one-in-four (23%) mortgages were underwater in the second quarter of 2010, and...

This paper calculates savings from renting compared with owning a house purchased at the peak housing bubble years of 2006 or 2007 in 16 major metropolitan areas. (The appendix includes calculations for 100 cities, including these 16.) The analysis calculates the savings both before- and...

This issue brief discusses a plan that would effectively deal with the mounting problem of home foreclosures in this country. The main point of the plan is that those who are facing foreclosure should have the option to remain in their home for a substantial period of time as renters. There are...

This report states that bringing about the rapid adjustment of house prices to trend levels is the best means of returning stability to the housing market. The paper also calls for the restriction of GSE capital in bubble-inflated markets, with the intent of forcing house prices in these areas...

It has been two years since the housing bubble began to deflate. In this time, home prices in major metropolitan areas have fallen more than 32.3 percent and the woes in the housing sector have spread to the broader economy. Where is the housing market today? Have we hit bottom? This paper,...

The new economic projections from the Congressional Budget Office show the economy remaining well below its potential level of output until 2014. The projections show the unemployment rate averaging 10.2 percent in 2010 and gradually edging down to the long-term sustainable rate of 4.8 percent...