Liberty Street Economics: Elevated Rent Expectations Continue to Pressure Low-Income Households

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   Elevated Rent Expectations Continue to Pressure Low-Income Households    Andrew Haughwout, Ben Hyman, Ben Lahey, Devon Lall, and Jason Somerville    The Federal Reserve Bank of New York's 2023 SCE Housing Survey, released in April, reported some novel data about expectations for home prices, interest rates, and mortgage refinancing. Although the data showed a sharp drop in home price expectations, some of the most notable findings concern renters. This post probes deeper into how renters' expectations and financial situations have evolved over the past year.     READ MORE

 

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