- The Federal Reserve Bank of New York’s Staff Report, Determinants of Mortgage Default and Consumer Credit Use: The Effects of Foreclosure Laws and Foreclosure Delays, examines the interconnectedness of debt repayment decisions – specifically finding that mortgage default is negatively correlated with credit card and car loan defaults, unless foreclosure is delayed, in which case default rates increase across the board.
- Harvard’s Joint Center for Housing Studies’ Remodeling Futures Program recently released its Leading Indicator of Remodeling Activity (LIRA) index which predicts annual spending growth for home improvements will accelerate to 4.0% by the first quarter of 2016.
- According to the National Association of Realtor’s recently released June Existing Home Sales data, sales are now at their highest pace since February 2007 (5.79 million), have increased year-over-year for nine consecutive months and are 9.6 percent above a year ago (5.01 million).
- The National Low Income Housing Coalition has compiled a helpful overview of the new Affirmatively Furthering Fair Housing (AFFH) Rule, which was released by the U.S. Department of Housing and Urban Development on July 8th. This document compares the old AFFH rule to the new AFFH rule and finds it makes modest yet positive steps toward encouraging more integrated communities.
- The Urban Institute’s Are You Rent Burdened? Is an interactive calculator the allows one to imput address, income and rental amount to determine whether one is rent burdened.
Tag Archives: foreclosure laws
Wednesday’s Academic Roundup
- Airbnb and the Housing Segment of the Modern ‘Sharing Economy’: Are Short-Term Rental Restrictions an Unconstitutional Taking?, Jamila Jefferson-Jones, Hastings Constitutional Law Quarterly, Vol. 42, 2015.
- The Use of Tenant Screening Reports and Tenant Blacklisting, Gerald Lebovits & Jen M. Addonizio, LEGALEase Pamphlet, New York State Bar Association (2015).
- Banks, Break-Ins, and Bad Actors in Mortgage Foreclosure, Christopher K. Odinet, University of Cincinnati Law Review, Vol. 83, No. 4, 2015.
- Determinants of Mortgage Default and Consumer Credit Use: The Effects of Foreclosure Laws and Foreclosure Delays, Sewin Chan, Andrew Haughwout, Andrew T. Hayashi, & Wilbert Van der Klaauw, FRB of New York Staff Report No. 732.
- The Effect of Mortgage Payment Reduction on Default: Evidence from the Home Affordable Refinance Program, Douglas A. McManus, Jared Janowiak, Lu Ji, Kadiri Karamon & Jun Zhu, Real Estate Economics.