Editor: David Reiss
Brooklyn Law School

October 20, 2016

Thursday’s Advocacy & Think Tank Roundup

By Robert Engelke

  • A report by the Brookings Institute, titled Time for Justice: Tackling Race Inequalities in Health and Housing, discusses some of inequities and issues in race relations within housing and healthcare.
  • The Partnerships for Raising Opportunity in Neighborhoods, known as PRO Neighborhoods, is a program of JPMorgan Chase & Co. to provide funds to community development financial institutions (CDFIs) that collaborate to help revitalize low- and moderate-income communities and aid their residents and small-business owners. Here is its 2016 report.
  • In an article by the Joint Center for Housing Studies, titled Housing Recovery by Income in Two Metros: San Francisco and St. Louis, the author illustrates the difference in housing prices and income for those two regions.
  • An paper by the Division of International Finance, titled Can Learning Explain Boom-Bust Cycles in Asset Prices? An Application to the US Housing Boom, argues that boom-bust behavior in asset prices can be explained by a model in which boundedly rational agents learn the process for prices. The key feature of the model is that learning operates in both the demand for assets and the supply of credit.
  • This paper by the Board of Governors of the Federal Reserve System, titled Do Mortgage Subsidies Help or Hurt Borrowers, shows how mortgage subsidies affect homeownership costs by reducing effective mortgage rates and increasing house prices. The author shows analytically the role of mortgage subsidies in determining house price changes, economic incidence, and efficiency costs using a theoretical framework for applied welfare analysis.
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