It has been 75 years since the Federal Housing Administration (FHA) was established and it is again serving as the … primary backstop in the current housing market downturn, insuring roughly 39 percent of all new purchase loans. This … countercyclical role for the FHA, with respect to the housing market cycle, does not come without costs, and the main cost is the risk …

Most mortgages in the United States are securitized through the agency mortgage-backed-securities (MBS) market. These … liquidity, leading to lower borrowing costs for households. Evaluation of potential reforms to the U.S. housing finance system …

that the volume of housing transactions increases when the payment profile is increasing and households have little housing … participation effects without increasing the volatility of the housing market. The model predicts that the expansion of mortgage …

with search in the housing market and defaultable long-term mortgages. In equilibrium, both sellers' asking prices and time …-to-sell increase with the relative size of their outstanding mortgages. In turn, the liquidity of the housing market associated with …

the importance of familial wealth for household wealth accumulation and housing wealth in particular. A back …-of-the-envelope calculation suggests that dynastic home equity increases housing wealth inequality among young adults by 20%. …

, constituting the most valuable asset owned by most households and often requiring housing finance (mortgages) to allow for purchase …The paper provides a review of the literature that links housing, housing finance, and economic development. The … housing sector may support poverty reduction and inclusive growth in two general ways. First, housing construction contributes …

in recent years, due partly to the fact that tax breaks for housing purchase, reforms in the housing loan market since … the early 2000s, and expansionary monetary policy enabled Japanese households to purchase housing at a younger age than … households who have chosen variablerate housing loans has increased in recent years. …