Topic
HUD USER
About: HUD USER is a research topic. Over the lifetime, 13 publications have been published within this topic receiving 147 citations.
Papers
Posted Content•
TL;DR: In this paper, the authors identify the main barriers to Hispanic homeownership, including barriers associated with the lack of information about the homebuying process, the real estate and housing markets, and the financial and mortgage markets.
Abstract: Homeownership rates have reached unprecedented levels in the United States. According to 2005 Current Population Survey data, virtually every segment of the population has higher homeownership rates than they did a decade ago—although the gains have been largest among Hispanics. Yet, despite the rapid growth in Hispanic homeownership over the past decade, the gap between non-Hispanic White and Hispanic homeownership rates is still 26 percentage points. In light of these statistics, this article has two goals: (1) to describe the demographic and socioeconomic characteristics of the U.S. Hispanic population and how these characteristics relate to the Hispanic homeownership gap and (2) to identify the main barriers to Hispanic homeownership, including barriers associated with the lack of information about the homebuying process, the real estate and housing markets, and the financial and mortgage markets. To accomplish these goals, the article reviews the existing literature and incorporates key information on Hispanic households derived from the decennial census and other publicly available national data sets. This article is derived from a more detailed review of Hispanic homeownership gaps (Cortes et al., 2006), and the reader is referred to this study for greater details on the data and literature cited in this article.
59 citations
1 Jan 2008
TL;DR: In this article, the authors present an empirical analysis of the effects of inclusionary zoning policies on housing prices and starts in California during the period from 1988 through 2005, comparing cities with and without such policies by carefully controlling for spatial and temporal conditions, such as the neighborhood or school district within which the house is located and changing market conditions over time.
Abstract: This article presents an empirical analysis of the effects of inclusionary zoning policies on housing prices and starts in California during the period from 1988 through 2005. The analysis compares cities with and without such policies and isolates the effects of inclusionary zoning programs by carefully controlling for spatial and temporal conditions, such as the neighborhood or school district within which the house is located and changing market conditions over time. The analysis found that inclusionary zoning policies had measurable effects on housing markets in jurisdictions that adopt them; specifically, the price of single-family houses increases and the size of single-family houses decreases. The analysis also found that, although the cities with such programs did not experience a significant reduction in the rate of single-family housing starts, they did experience a marginally significant increase in multifamily housing starts. The magnitude of this shift varied with the stringency of the inclusionary requirements. Finally, the analysis found that the size of market-rate houses in cities that adopted inclusionary zoning increased more slowly than in cities without such programs. The results are fully consistent with economic theory and demonstrate that inclusionary zoning policies do not come without costs.
48 citations
Posted Content•
TL;DR: The authors examined the extent to which differences in the interest rates obtained by homeowners of different race/ethnicity and income levels can be explained by differences in characteristics of the borrowers, the property, and the loan itself.
Abstract: This article uses recent metropolitan area samples of the American Housing Survey (AHS) for 1998, 2002, and 2004 to investigate differences in the terms, conditions, and use of mortgage financing alternatives. It investigates how financing and mortgage rates differ for Hispanics compared with other ethnic groups across a number of different U.S. housing markets. The principal focus of the article is to examine the extent to which differences in the interest rates obtained by homeowners of different race/ethnicity and income levels can be explained by differences in the characteristics of the borrowers, the property, and the loan itself. For example, Hispanic households appear to have a relatively high burden of first mortgage debt. Although limitations in the information available in the AHS do not allow for the determination of whether discrimination exists for minorities in the sample, this data set does identify important differences in the characteristics of these households, which in turn affect mortgage pricing.
17 citations
Posted Content•
TL;DR: In 2007, approximately 17 million individuals and families in communities throughout the country received housing education and counseling from more than 1,800 non-profit organizations approved by the US Department of Housing and Urban Development (HUD) as discussed by the authors.
Abstract: In 2007, approximately 17 million individuals and families in communities throughout the country received housing education and counseling from more than 1,800 non-profit organizations approved by the US Department of Housing and Urban Development (HUD) The types of services provided by these agencies address a broad spectrum of housing issues, including helping renters to become homeowners, helping homeowners to maintain, improve, or refinance their home or to avoid foreclosure, helping people experiencing homelessness to find housing, and helping people of all types with fair housing complaints or financial management challenges
13 citations
Posted Content•
TL;DR: In this article, the authors present an empirical analysis of the effects of inclusionary zoning policies on housing prices and starts in California during the period from 1988 through 2005, comparing cities with and without such policies by carefully controlling for spatial and temporal conditions, such as the neighborhood or school district within which the house is located and changing market conditions over time.
Abstract: This article presents an empirical analysis of the effects of inclusionary zoning policies on housing prices and starts in California during the period from 1988 through 2005. The analysis compares cities with and without such policies and isolates the effects of inclusionary zoning programs by carefully controlling for spatial and temporal conditions, such as the neighborhood or school district within which the house is located and changing market conditions over time. The analysis found that inclusionary zoning policies had measurable effects on housing markets in jurisdictions that adopt them; specifically, the price of single-family houses increases and the size of single-family houses decreases. The analysis also found that, although the cities with such programs did not experience a significant reduction in the rate of single-family housing starts, they did experience a marginally significant increase in multifamily housing starts. The magnitude of this shift varied with the stringency of the inclusionary requirements. Finally, the analysis found that the size of market-rate houses in cities that adopted inclusionary zoning increased more slowly than in cities without such programs. The results are fully consistent with economic theory and demonstrate that inclusionary zoning policies do not come without costs.
10 citations
Performance Metrics
| Year | Papers |
|---|---|
| 2013 | 1 |
| 2009 | 4 |
| 2008 | 6 |
| 2007 | 2 |