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The Changing Prospects for Building Home Equity: An Updated Analysis of Rents and the Price of Housing in 100 Metropolitan Areas

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  • Hye Jin Rho
  • Danilo Pelletiere
  • Dean Baker

Abstract

This report updates CEPR's May 2008 report titled "Ownership, Rental Costs and the Prospects of Building Home Equity: An Analysis of 100 Metropolitan Areas," which compared the ownership and rental costs in 100 major U.S. metropolitan areas and projected the potential for a first-time homebuyer in those cities to accumulate home equity. Since the publication of that paper, housing prices have continued their steep descent in much of the country and rents have risen modestly. The study shows that recent price declines indicate many communities are moving back toward the historical track of modest equity increases for homebuyers. The findings point out that is still unwise for policy makers to attempt to directly intervene in housing markets to maintain what are historically unprecedented high home prices.

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File URL: http://www.cepr.net/documents/publications/Changing_Prospects_for_Building_Home_Equity_2008_10.pdf
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Bibliographic Info

Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-26.

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Length: 17 pages
Date of creation: Oct 2008
Date of revision:
Handle: RePEc:epo:papers:2008-26

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  1. Eileen Appelbaum & Dean Baker & John Schmitt, 2008. "A Slow-Motion Recession: What Congress Can Do to Help," Challenge, M.E. Sharpe, Inc., vol. 51(5), pages 5-19, September.
  2. Dean Baker & John Schmitt, 2008. "What We’re In For: Projected Economic Impact of the Next Recession," CEPR Reports and Issue Briefs 2008-03, Center for Economic and Policy Research (CEPR).
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