Homeownership for the Long Run: An Analysis of Homeowner Subsidies

28 Pages Posted: 21 Feb 2011

Date Written: November 10, 2010

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.

Keywords: mortgage default, interest rate subsidy, downpayment subsidy, housing finance policy

JEL Classification: H53, I38, R31

Suggested Citation

Ergungor, Ozgur Emre, Homeownership for the Long Run: An Analysis of Homeowner Subsidies (November 10, 2010). FRB of Cleveland Working Paper No. 10-21. Available at SSRN: https://ssrn.com/abstract=1723445 or http://dx.doi.org/10.2139/ssrn.1723445

Ozgur Emre Ergungor (Contact Author)

affiliation not provided to SSRN

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