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Homeowner subsidies

Author

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  • O. Emre Ergungor

Abstract

Though some programs that were created to promote homeownership in the United States, like Fannie Mae and Freddie Mac, have been harshly criticized in the wake of the housing crisis, we are likely to continue to provide some form of taxpayer-funded assistance to those who would become homeowners. Historically, assistance has taken the form of either interest rate or down-payment subsidies, but recent research suggests that down-payment subsidies are much more effective. They create successful homeowners?homeowners who keep their homes?at a lower cost.

Suggested Citation

  • O. Emre Ergungor, 2011. "Homeowner subsidies," Economic Commentary, Federal Reserve Bank of Cleveland, issue Feb.
    • Handle: RePEc:fip:fedcec:y:2011:i:feb23:n:2011-3
    DOI: 10.26509/frbc-ec-201103
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    Cited by:

    1. Danilo Liberati & Valerio Vacca, 2016. "With (more than) a little help from my bank. Loan-to-value ratios and access to mortgages in Italy," Questioni di Economia e Finanza (Occasional Papers) 315, Bank of Italy, Economic Research and International Relations Area.

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