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When will residential construction rebound?

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Author Info

  • William Hedberg
  • John Krainer

Abstract

Over the past several years, U.S. housing starts have dropped to around 400,000 units at an annualized rate, the lowest level in decades. A simple model of housing supply that takes into account residential mortgage foreclosures suggests that housing starts will return to their long-run average by about 2014 if house prices first stabilize and then begin appreciating, and the bloated inventory of foreclosed properties declines.

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File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-23.html
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File URL: http://www.frbsf.org/publications/economics/letter/2011/el2011-23.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of San Francisco in its journal FRBSF Economic Letter.

Volume (Year): (2011)
Issue (Month): July 25 ()
Pages:

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Handle: RePEc:fip:fedfel:y:2011:i:july25:n:2011-23

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Related research

Keywords: Construction industry ; Housing;

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Cited by:
  1. John C. Williams, 2012. "The economic outlook and monetary policy," Speech, Federal Reserve Bank of San Francisco, issue Mar 1.

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