This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
RR07-2: Where the poor live and why has an enormous impact on access to jobs, decent quality schools, and other local attributes that affect a family’s ability to rise…
Using data from the 1998 Survey of Consumer Finances (SCF), this paper estimates homeownership rates that would prevail in the United States if borrowing constraints were…
This paper examines trends in prime-market mortgage lending to low- and moderate-income families and to families living in underserved areas, hereafter affordable lending,…