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Homeownership for the long run: an analysis of homeowner subsidies

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  • O. Emre Ergungor

Abstract

This paper examines the impact of interest-rate and down-payment subsidies on default rates and losses given default, and finds that down-payment subsidies create successful homeowners at a lower cost than interest-rate subsidies.

Suggested Citation

  • O. Emre Ergungor, 2010. "Homeownership for the long run: an analysis of homeowner subsidies," Working Paper 1021, Federal Reserve Bank of Cleveland, revised 01 Jan 2011.
  • Handle: RePEc:fip:fedcwp:1021
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    File URL: https://www.clevelandfed.org/newsroom-and-events/publications/working-papers/working-papers-archives/2010-working-papers/wp-1021-homeownership-for-the-long-run-an-analysis-of-homeowner-subsidies.aspx
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    File URL: https://www.clevelandfed.org/newsroom-and-events/publications/working-papers/2011-working-papers/wp-1021r-homeownership-for-the-long-run-an-analysis-of-homeowner-subsidies.aspx
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    References listed on IDEAS

    as
    1. Anthony Pennington-Cross, 2006. "The Value of Foreclosed Property," Journal of Real Estate Research, American Real Estate Society, vol. 28(2), pages 193-214.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. How not to encourage home ownership
      by Economic Logician in Economic Logic on 2010-12-28 23:05:00

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    Cited by:

    1. Dietsch, Michel & Petey, Joël, 2015. "The credit-risk implications of home ownership promotion: The effects of public subsidies and adjustable-rate loans," Journal of Housing Economics, Elsevier, vol. 28(C), pages 103-120.

    More about this item

    Keywords

    Mortgage loans ; Default (Finance) ; Housing - Finance;

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    1. Economic Logic blog

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