The Cost of Maintaining Ownership in the Current Crisis: Comparisons in 20 Cities
Contributing Organization(s): Center for Economic and Policy Research
Author(s)/Creator(s): Dean Baker; Danilo Pelletiere; Hye Jin Rho
Publishing Date: 2008-04-03
Issue Areas: Housing and Homelessness; Economic Development
Ownership/Rights Info: Creative Commons Attribution 1.0 Generic
This report compares the ownership and rental costs in 20 major U.S. metropolitan areas. The study finds that in many markets, homeownership costs are in line with rental costs. In these areas, it is practical and desirable to focus on policies that keep homeowners in their homes. The report goes on to show that in bubble-inflated markets, however, homeownership is not only a costly and risky proposition, but continuing price declines mean that homeowners will not accrue any equity. The authors suggest that policy makers should be sure to consider affordable rental options as part of the solution when drafting proposals to help households in these markets.
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Intended Audience: Advocates; College/University Professors; General Public; Legislators/Legislative Aids; Policy Professionals; Researchers
Type/Format: Policy Brief
Language code: English
Type/Format: Policy Brief
Language code: English
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