Housing market policy options / Melissa O. Murray and Willie T. Cole, editors.

Format:

Book

Contributor:

Murray, Melissa O., editor.

Cole, Willie T., editor.

Series:

Housing, issues, laws and programs series.

Housing Issues, Laws and Programs

Language:

English

Subjects (All):

Mortgages--United States.

Mortgages.

Economic policy--United States.

Economic policy.

Housing--United States--Finance.

Housing.

Housing policy--United States.

Housing policy.

Physical Description:

1 online resource (179 pages) : illustrations.

Place of Publication:

New York : Nova Publishers, [2012]

Summary:

The ongoing problems in the U.S. housing market continue to impede the economic recovery. House prices have fallen an average of about 33 percent from their 2006 peak, resulting in about $7 trillion in household wealth losses and an associated ratcheting down of aggregate consumption. At the same time, an unprecedented number of households have lost, or are on the verge of losing, their homes. The extraordinary problems plaguing the housing market reflect in part the effect of weak demand due to high unemployment and heightened uncertainty. But the problems also reflect three key forces originating from within the housing market itself: a persistent excess supply of vacant homes on the market, many of which stem from foreclosures; a marked and potentially long-term downshift in the supply of mortgage credit; and the costs that an often unwieldy an inefficient foreclosure process imposes on home-owners, lenders, and communities. This book provides a framework for thinking about directions policy-makers might take to help the housing market.

Notes:

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (ebrary, viewed November 23, 2016).

ISBN:

1-62257-312-9