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Even in regions with relatively abundant market-rate housing, the market can fail to supply safe and sufficient housing to populations with very low income or disabilities that impair independent living. Insufficient public funding has contributed to a distinct housing crisis affecting these groups.
Some cities have already adopted strict rent control measures. For example, St. Paul, Minnesota, approved a rent control law last fall that does not make exceptions for new buildings or vacant units.
San Francisco has been the poster child for skyrocketing home prices in the U.S., with a typical home value of more than $1.26 million, according to Zillow. While there is still heated competition ...
A study that compared the effects of local rent control measures (both vacancy control and vacancy decontrol) with other local growth management measures in 490 California cities and counties (including all the largest ones) showed that rent control was stronger than individual land use restrictions (but not the aggregate effect of all growth ...
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
So when the housing market began its descent and mortgage-backed securities lost so much of their value, Fannie and Freddie had so little capital that it hit them badly.
The Biden-Harris administration's proposed nationwide rent cap would exacerbate the housing shortage, disincentivize new housing construction, and reduce property tax revenue, while not addressing ...
Guren and McQuade (2020) argue that widespread foreclosures can interact with the housing market to amplify declines in asset prices, leading to prices below levels determined by fundamentals: "When the housing market is hit by a shock that lowers housing demand and induces some foreclosures — for example a drop in employment . . . the ...