Housing Affordability: Recommendations for New Research to Guide Policy

7 Pages Posted: 10 Dec 2018

See all articles by Jane Dokko

Jane Dokko

Federal Reserve Bank of Chicago

Date Written: December 2018

Abstract

This article highlights areas where economic research is needed to guide federal policymakers addressing the challenge of improving housing affordability. The author places these research recommendations in the framework of five key issues, reflecting policymakers’ need to identify a rationale for government action; to employ a single, clear measure to gauge affordability; to understand the unintended consequences of current housing policies; to ensure that the political environment is considered when developing policy; and to decide whether to use housing finance reform as a means of achieving housing affordability. New research in these areas would reduce uncertainty in policy design choices, strengthen the evidence base on effective policy interventions, help policymakers evaluate risks, and make salient the trade-offs between different policy objectives.

Keywords: housing, affordability, public policy

JEL Classification: H1, H2, R21, R3, R52

Suggested Citation

Dokko, Jane, Housing Affordability: Recommendations for New Research to Guide Policy (December 2018). Economic Policy Review, Vol. 24, No. 3, 2018, Available at SSRN: https://ssrn.com/abstract=3298993 or http://dx.doi.org/10.2139/ssrn.3298993

Jane Dokko (Contact Author)

Federal Reserve Bank of Chicago ( email )

230 South LaSalle Street
Chicago, IL 60604
United States

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