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FHA First-Time Buyer Homeownership Sustainability: An Update

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Abstract

An important part of the mission of the Federal Housing Administration (FHA) is to provide affordable mortgages that both promote the transition from renting to owning and create “sustainable” homeownership. The FHA has never defined what it means by sustainability. However, we developed a scorecard in 2018 that tracks the long-term outcomes of FHA first-time buyers (FTBs) and update it again in this post. The data show that from 2011 to 2016 roughly 21.8 percent of FHA FTBs failed to sustain their homeownership.

Suggested Citation

  • Donghoon Lee & Joseph Tracy, 2023. "FHA First-Time Buyer Homeownership Sustainability: An Update," Liberty Street Economics 20231130, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:97396
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    File URL: https://libertystreeteconomics.newyorkfed.org/2023/11/fha-first-time-buyer-homeownership-sustainability-an-update/
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    Keywords

    first-time home buyers;

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance

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