Who Is Still on First? An Update of Characteristics of First-Time Homebuyers - Liberty Street Economics
A look at the characteristics of first-time homebuyers and their resilience since the COVID-19 crisis.| Liberty Street Economics
A look at the characteristics of first-time homebuyers and their resilience since the COVID-19 crisis.| Liberty Street Economics
Based on recent proposals and policy dialogue, it would appear that first-time home buyers (FTB) are indeed facing desperate times. For example, in a recent Urban Institute study, Michael Stegman, Ted Tozer, and Richard Green advocate for a zero-downpayment Federal Housing Administration (FHA) mortgage. They argue that this would be a more efficient way to deliver much needed support to help households transition to homeownership given the challenges of high house prices and mortgage rates.| Liberty Street Economics
Donghoon Lee is an economic research advisor in Microeconomics. His primary research interests include housing economics, household finance, and labor economics. Prior to joining the New York Fed, Mr. Lee was an assistant professor at New York University. He holds a Ph.D. from the University of Pennsylvania.| www.newyorkfed.org
