Liberty Street Economics: How COVID-19 Affected First-Time Homebuyers

F E D E R A L   R E S E R V E   B A N K   o f   N E W  Y O R K LIBERTY STREET ECONOMICS   How COVID-19 Affected First-Time Homebuyers   Donghoon Lee and Joseph Tracy Although the first wave of the pandemic slowed the spring housing market, home sales rebounded sharply over the rest of the year. Given the rising house prices and continuing high unemployment, concerns arose that COVID-19 may have negatively affected first-time homebuyers. Using a new and more accurate measure of first-time homebuyers, the authors find that these buyers have not been adversely affected by the pandemic. READ MORE

 

 

 

 

 

 

 

 

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