Home Sweet Home: Government's Role in Reaching the American Dream
Electronic Access:
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Summary:
This paper investigates the role of government intervention in achieving the American dream of homeownership. The study analyzes the role of tax deductions in housing finance, including their impact on homeownership and housing consumption. The role of the Government Sponsored Enterprises in facilitating the creation of a secondary market for mortgage-backed securities is also analyzed as well as the role of the Federal Housing Administration. Cross-country comparisons of how housing is financed in other industrial countries is also provided, emphasizing how other countries have been able to achieve comparable homeownership rates as the United States in a less complicated and fiscally cheaper system. Country experiences of successfully phasing out government intervention are also analyzed.
Series:
Working Paper No. 2011/191
Subject:
Financial institutions Housing Housing prices Loans Mortgages National accounts Prices Tax allowances Taxes
English
Publication Date:
August 1, 2011
ISBN/ISSN:
9781462307258/1018-5941
Stock No:
WPIEA2011191
Pages:
46
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