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xvii | |
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xix | |
| Preface |
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xxiii | |
| Acknowledgments |
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xxv | |
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1 | (13) |
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2 | (1) |
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Housing and the Environment |
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2 | (1) |
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The Economic Importance of Housing |
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3 | (2) |
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The Goals and Forms of Housing Policy |
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5 | (1) |
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Housing Policy in the United States: An Overview |
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6 | (3) |
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9 | (1) |
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10 | (1) |
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11 | (3) |
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2 Trends, Patterns, Problems |
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14 | (45) |
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14 | (1) |
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Housing Construction Trends |
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14 | (2) |
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16 | (4) |
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20 | (1) |
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Characteristics of Homeowners and Renters |
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21 | (2) |
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23 | (3) |
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26 | (1) |
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27 | (4) |
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31 | (2) |
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Employment and Housing Affordability |
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33 | (1) |
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34 | (4) |
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Explaining the Affordability Problem |
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38 | (5) |
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43 | (1) |
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The Magnitude and Causes of Homelessness |
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43 | (4) |
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Federal Housing Expenditures |
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47 | (5) |
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52 | (1) |
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Appendix: Selected Data Sources on Housing |
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52 | (1) |
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53 | (1) |
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54 | (5) |
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59 | (42) |
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59 | (1) |
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Housing Finance and the New Deal |
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59 | (1) |
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60 | (1) |
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Home Owners' Loan Corporation |
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60 | (1) |
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Federal Housing Administration |
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61 | (2) |
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Federal Housing National Mortgage Association |
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63 | (1) |
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Mortgage Finance from the 1940s to the 1980s---The Thrift Era |
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64 | (1) |
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65 | (2) |
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Housing Finance from the 1990s to the Present---Securitization and Crisis |
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67 | (1) |
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The Ascendance of the Secondary Mortgage Market |
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68 | (4) |
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The Rise of Risk-Based Pricing and the Emergence of Subprime Lending |
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72 | (2) |
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Deregulation, Competition, and Technology |
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74 | (2) |
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High-Risk Mortgages and the Secondary Mortgage Market |
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76 | (1) |
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The Structure of Mortgage-Backed Securities |
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76 | (2) |
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The Growth of Private-Label Securitization |
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78 | (1) |
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79 | (4) |
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The Mortgage Crisis in Historical Perspective: Impacts and Policy Response |
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83 | (5) |
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Debt Financing for Multifamily Housing |
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88 | (2) |
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Public Policy and Housing Finance |
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90 | (4) |
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94 | (1) |
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95 | (1) |
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96 | (5) |
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101 | (17) |
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Overview of Tax Expenditures |
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101 | (3) |
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Homeowner Tax Expenditures |
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104 | (5) |
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Investor Tax Expenditures |
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109 | (3) |
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The Tax Reform Act of 1986 |
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112 | (1) |
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Tax Cuts and Jobs Act of 2017 |
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112 | (2) |
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114 | (1) |
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115 | (1) |
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116 | (2) |
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5 The Low-Income Housing Tax Credit |
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118 | (26) |
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118 | (2) |
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Converting Tax Credits into Equity |
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120 | (4) |
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Underwriting and Development Costs |
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124 | (3) |
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A Portrait of Tax-Credit Housing |
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127 | (1) |
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Sponsorship (For-Profit/Nonprofit) |
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127 | (1) |
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127 | (1) |
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127 | (2) |
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Physical Characteristics (Size, Construction Type) |
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129 | (1) |
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129 | (1) |
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Location (Central City, Suburbs, Nonmetropolitan Areas, Poverty Areas, Minority Areas) |
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129 | (2) |
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131 | (1) |
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Issues and Unresolved Problems |
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132 | (1) |
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Complexity and Inefficiency |
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132 | (1) |
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Affordability and Sustainability Beyond Year 15 |
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133 | (3) |
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Competing Uses for Tax Credits |
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136 | (1) |
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136 | (1) |
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137 | (1) |
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Appendix: Discounting and Present Value |
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138 | (1) |
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139 | (1) |
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140 | (4) |
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144 | (34) |
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Overview of Public Housing |
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144 | (3) |
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147 | (2) |
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149 | (1) |
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Design and Construction Quality |
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150 | (2) |
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152 | (2) |
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154 | (1) |
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155 | (4) |
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Distressed Public Housing |
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159 | (1) |
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HOPE VI and the Transformation of Public Housing |
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160 | (7) |
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Quality Housing and Work Responsibility Act of 1998 |
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167 | (1) |
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One-Strike Eviction Policies |
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168 | (1) |
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Summary of Changes in Public Housing and Local Examples |
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169 | (1) |
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170 | (3) |
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173 | (1) |
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173 | (5) |
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7 Privately Owned Rental Housing Built with Federal Subsidy |
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178 | (20) |
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Mortgage Subsidy Programs |
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178 | (1) |
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178 | (1) |
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179 | (1) |
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180 | (1) |
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180 | (1) |
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Section 8 New Construction and Substantial Rehabilitation |
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181 | (1) |
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The Preservation Challenge |
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182 | (1) |
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182 | (2) |
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184 | (1) |
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Physical Preservation Needs |
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184 | (1) |
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185 | (1) |
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186 | (4) |
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Overview of Privately Owned, Assisted Housing Stock |
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190 | (2) |
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192 | (2) |
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194 | (1) |
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195 | (3) |
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198 | (40) |
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198 | (1) |
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198 | (5) |
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Voucher Utilization Trends |
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203 | (4) |
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Landlord Participation in the HCV Program |
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207 | (2) |
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Profile of Voucher Holders |
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209 | (2) |
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Neighborhood Characteristics of Voucher Holders |
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211 | (6) |
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Rental Vouchers and Residential Mobility |
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217 | (1) |
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218 | (1) |
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Baltimore Housing Mobility Program (BHMP) |
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219 | (1) |
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Choice Communities Initiative (San Diego, CA) |
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219 | (1) |
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Mobility Assistance Program (MAP) (Dallas, Texas) |
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219 | (1) |
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How Effective Are Mobility Programs? |
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220 | (6) |
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Small Area Fair Market Rents |
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226 | (3) |
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Vouchers and Reconcentration of Poverty |
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229 | (1) |
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230 | (2) |
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232 | (1) |
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233 | (5) |
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9 State and Local Housing Policy and the Nonprofit Sector |
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238 | (39) |
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240 | (1) |
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Community Development Block Grants |
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240 | (5) |
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HOME Investment Partnership Program |
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245 | (1) |
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National Affordable Housing Trust Fund |
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246 | (1) |
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Tax-Exempt Bond Financing |
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246 | (1) |
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247 | (1) |
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Mortgage Credit Certificates |
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247 | (1) |
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Multifamily Housing Bonds |
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247 | (1) |
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248 | (4) |
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252 | (1) |
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252 | (1) |
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253 | (1) |
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254 | (1) |
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Montgomery County, Maryland |
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255 | (1) |
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Key Dimensions of Inclusionary Zoning |
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255 | (1) |
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256 | (3) |
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Recent State and Local Initiatives to Produce and Preserve Affordable Housing |
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259 | (1) |
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General Obligation Bonds for Housing |
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259 | (1) |
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260 | (1) |
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Other Recent State and Local Housing Initiatives |
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260 | (1) |
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Nonprofit Organizations and State and Local Housing Programs |
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261 | (5) |
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Community Development Corporations (CDCs) Large Citywide and Regional Housing Organizations |
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266 | (1) |
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Supportive Housing and Other Special-Needs Housing Providers |
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267 | (1) |
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267 | (1) |
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267 | (2) |
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269 | (8) |
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10 Housing for People with Special Needs |
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277 | (13) |
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277 | (1) |
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278 | (2) |
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280 | (1) |
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Other Federal Subsidy Programs |
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280 | (1) |
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Programs Designed to Help Elderly Households Remain in Place |
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280 | (1) |
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Housing for People with Disabilities |
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281 | (1) |
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281 | (1) |
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Housing Opportunities for People with AIDS (HOPWA) |
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282 | (1) |
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Programs for Homeless People |
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283 | (1) |
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283 | (2) |
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285 | (1) |
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285 | (1) |
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286 | (4) |
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11 Fair Housing and Community Reinvestment |
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290 | (47) |
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290 | (4) |
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Discrimination in the Residential Real Estate Market |
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294 | (7) |
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Discrimination Especially Pronounced Among "Identifiably" Minority Individuals |
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301 | (1) |
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301 | (2) |
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Discrimination Against Other Groups |
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303 | (1) |
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Limitations of HDS2012 and Other Fair Housing Audits |
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303 | (1) |
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Discrimination in the Mortgage Market |
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304 | (1) |
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Racial and Ethnic Disparities in Mortgage Denial Rates |
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304 | (5) |
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From Fair Access to Credit to Access to Fair Credit |
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309 | (6) |
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The Government's Response to Discrimination in the Real Estate and Mortgage Markets |
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315 | (1) |
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315 | (2) |
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Affirmatively Furthering Fair Housing (AFFH) |
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317 | (3) |
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Legislation Aimed at Discrimination in the Mortgage Market |
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320 | (6) |
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Legislation Aimed at Subprime and Predatory Lending |
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326 | (1) |
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Dodd-Frank Wall Street Reform and Consumer Protection Act |
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327 | (1) |
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Enforcement of Fair Housing and Fair Lending Laws and Regulations |
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328 | (1) |
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329 | (1) |
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330 | (1) |
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331 | (6) |
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12 Homeownership and Income Integration |
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337 | (26) |
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337 | (2) |
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Financial Benefits of Homeownership |
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339 | (4) |
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Barriers to Homeownership and Strategies to Overcome Them |
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343 | (4) |
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347 | (1) |
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Homeownership After the Crisis |
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348 | (2) |
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350 | (5) |
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355 | (1) |
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356 | (1) |
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356 | (7) |
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13 An International Perspective on U.S. Housing Policy: Australia, Canada, and the United Kingdom |
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363 | (17) |
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363 | (1) |
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363 | (3) |
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366 | (1) |
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367 | (1) |
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Public Housing and Other Forms of Social Housing |
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368 | (3) |
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371 | (1) |
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Tenant-Based Rental Assistance |
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372 | (1) |
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373 | (1) |
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374 | (1) |
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375 | (1) |
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376 | (4) |
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380 | (10) |
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380 | (4) |
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384 | (1) |
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Climate Change and Housing |
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385 | (1) |
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Housing Policy During the Trump Administration |
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385 | (2) |
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387 | (1) |
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387 | (3) |
| Index |
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390 | |