• Real incomes of low skilled workers still have not fully recovered to their levels from before the 1990-91 recession.
• Because the price of a constant-quality housing bundle continues to rise, the affordability problem for relatively low income occupants of lower quality houses has not abated, despite the prolonged economic expansion of the 1990s.
• Our findings suggest that the quality of low end homes continues to decline. Research is urgently needed to determine the cause. If it is due to an inability of low income households to adequately fund the maintenance of a very capital-intensive good such as housing, then encouraging lower income households to put what little wealth they do have into housing may be misguided. The net savings of these households may be negatively impacted.
Affordable Housing Architecture Asia Borrowing Constraints Canada China Colombia Commercial Brokerage covid-19 CRE Credit Risk Transfers Debt Market Demographics Development e-Commerce Equity Market Ethnic Factors Europe Foreclosures Global Global Financial Crisis hospitality Housing & Residential Housing Supply India inflation Investing land use regulation Macroeconomics Microeconomics Mixed-Use Mobility Mortgage Rates Mortgages Multi-family Non-Traditional Mortgages office sector Political Risk Real Estate Investment Trusts Recession Rental Retail South America Sub-Prime Mortgages Sustainability United States Urban Urbanization work from home