Focus on Housing

Focus on Housing

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On October 6, the Senate Finance Committee held a hearing on tax incentives for home ownership.

Also on October 6, the Census Bureau published a report on the nation’s housing characteristics. It reports that there were 15 million vacant housing units in 2010.

An October 3 Pew study found a sharp increase in multigenerational households in recent years, suggesting that more people living under one roof is a key way in which people are coping with economic stress.

Also on October 3, the International Monetary Fund published a working paper examining housing cycles in OECD countries. It finds that the current cycle has had an exceptionally long downturn.

On September 30, the Joint Committee on Taxation issued a report on tax incentives for home ownership.

A September 19 Rasmussen poll found that 40 percent of homeowners expect their home to fall in value over the next year.

On September 14, the International Monetary Fund published a working paper showing that lax government regulation contributed to the housing boom and thus to the bust as well.

A September 13 issue brief from the Progressive Policy Institute warned that the housing market could take a hit on October 1 when the federal government lowers the limit on home loans it will back in 669 counties across the U.S.

On September 7, the Congressional Budget Office posted a working paper estimating the budgetary effects of allowing mortgages owned by Fannie Mae and Freddie Mac to be refinanced more easily.

I last posted items on this topic on September 8.

Bruce Bartlett is an American historian and columnist who focuses on the intersection between politics and economics. He blogs daily and writes a weekly column for The Fiscal Times.  Bartlett has written for Forbes Magazine and Creators Syndicate, and his work is informed by many years in government, including as a senior policy analyst in the Reagan White House.  He is the author of seven books including the New York Times best-seller, Imposter: How George W. Bush Bankrupted American and Betrayed the Reagan Legacy (Doubleday, 2006).

Bruce Bartlett’s columns focus on the intersection of politics and economics. The author of seven books, he worked in government for many years and was senior policy analyst in the Reagan White House.