Have the GSE affordable housing goals increased the supply of mortgage credit?

Brent William Ambrose, Thomas G. Thibodeau

Research output: Contribution to journalArticle

21 Citations (Scopus)

Abstract

In the 1980s, housing market analysts and policymakers were concerned that Freddie Mac and Fannie Mae were not adequately facilitating the financing of affordable housing for low- and moderate-income families. To address these concerns, the Department of Housing and Urban Development established quantitative Affordable Housing Goals requiring the Government Sponsored Enterprises (GSEs) to increase their purchases of mortgages originated by low- and moderate-income households and for homes located in low-income neighborhoods. Our analysis indicates that the goals increased the supply of mortgage credit available to low- and moderate-income households, after controlling for other mortgage market factors. Our analysis suggests that the increase in the supply of low-income mortgage credit occurred primarily in 1998.

Original languageEnglish (US)
Pages (from-to)263-273
Number of pages11
JournalRegional Science and Urban Economics
Volume34
Issue number3
DOIs
StatePublished - May 1 2004

Fingerprint

housing enterprise
affordable housing
household income
credit
low income
housing
income
supply
housing development
family income
housing market
urban development
purchase
market
Government sponsored enterprises
Mortgages
Affordable housing
Credit
analysis
Household income

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Urban Studies

Cite this

@article{bb09aaa4f51f4f35a8d4c01fa174f9b7,
title = "Have the GSE affordable housing goals increased the supply of mortgage credit?",
abstract = "In the 1980s, housing market analysts and policymakers were concerned that Freddie Mac and Fannie Mae were not adequately facilitating the financing of affordable housing for low- and moderate-income families. To address these concerns, the Department of Housing and Urban Development established quantitative Affordable Housing Goals requiring the Government Sponsored Enterprises (GSEs) to increase their purchases of mortgages originated by low- and moderate-income households and for homes located in low-income neighborhoods. Our analysis indicates that the goals increased the supply of mortgage credit available to low- and moderate-income households, after controlling for other mortgage market factors. Our analysis suggests that the increase in the supply of low-income mortgage credit occurred primarily in 1998.",
author = "Ambrose, {Brent William} and Thibodeau, {Thomas G.}",
year = "2004",
month = "5",
day = "1",
doi = "10.1016/S0166-0462(03)00040-1",
language = "English (US)",
volume = "34",
pages = "263--273",
journal = "Regional Science and Urban Economics",
issn = "0166-0462",
publisher = "Elsevier",
number = "3",

}

Have the GSE affordable housing goals increased the supply of mortgage credit? / Ambrose, Brent William; Thibodeau, Thomas G.

In: Regional Science and Urban Economics, Vol. 34, No. 3, 01.05.2004, p. 263-273.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Have the GSE affordable housing goals increased the supply of mortgage credit?

AU - Ambrose, Brent William

AU - Thibodeau, Thomas G.

PY - 2004/5/1

Y1 - 2004/5/1

N2 - In the 1980s, housing market analysts and policymakers were concerned that Freddie Mac and Fannie Mae were not adequately facilitating the financing of affordable housing for low- and moderate-income families. To address these concerns, the Department of Housing and Urban Development established quantitative Affordable Housing Goals requiring the Government Sponsored Enterprises (GSEs) to increase their purchases of mortgages originated by low- and moderate-income households and for homes located in low-income neighborhoods. Our analysis indicates that the goals increased the supply of mortgage credit available to low- and moderate-income households, after controlling for other mortgage market factors. Our analysis suggests that the increase in the supply of low-income mortgage credit occurred primarily in 1998.

AB - In the 1980s, housing market analysts and policymakers were concerned that Freddie Mac and Fannie Mae were not adequately facilitating the financing of affordable housing for low- and moderate-income families. To address these concerns, the Department of Housing and Urban Development established quantitative Affordable Housing Goals requiring the Government Sponsored Enterprises (GSEs) to increase their purchases of mortgages originated by low- and moderate-income households and for homes located in low-income neighborhoods. Our analysis indicates that the goals increased the supply of mortgage credit available to low- and moderate-income households, after controlling for other mortgage market factors. Our analysis suggests that the increase in the supply of low-income mortgage credit occurred primarily in 1998.

UR - http://www.scopus.com/inward/record.url?scp=2442593938&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=2442593938&partnerID=8YFLogxK

U2 - 10.1016/S0166-0462(03)00040-1

DO - 10.1016/S0166-0462(03)00040-1

M3 - Article

AN - SCOPUS:2442593938

VL - 34

SP - 263

EP - 273

JO - Regional Science and Urban Economics

JF - Regional Science and Urban Economics

SN - 0166-0462

IS - 3

ER -