Dallas Fed Economics
Inflation in services likely to rise further despite slowing goods prices
Given rising demand for in-person services, the slow pass-through of surging house prices to rent and owners’ equivalent rent (OER), and higher health care worker wages, services inflation is likely to increase further.
September 06, 2022
Dallas Fed Economics
Rent inflation expected to accelerate then moderate in mid-2023
With housing price moderation, it is important to assess the implications for rent inflation and OER inflation and, in particular, whether they may soon ease and help slow overall inflation.
August 16, 2022
Texas home prices rose at record pace in 2021
The buyer frenzy in Texas housing markets began in summer 2020, just months after COVID-19 shut down the economy in March and April.
July 01, 2022
Dallas Fed Economics
Real-time market monitoring finds signs of brewing U.S. housing bubble
There is growing cause for concern that U.S. house prices are again becoming unhinged from fundamentals.
March 29, 2022
Dallas Fed Economics
Federal Reserve Banks of Atlanta and Dallas conference explored housing, urban economics
Residential real estate prices rose sharply throughout the United States following the onset of COVID-19 in early 2020. While property owners received a capital gains windfall, first-time buyers and renters have struggled with reduced affordability.
January 25, 2022
Dallas Fed Economics
Taking the global housing market’s temperature: Is it running a fever (again)?
The current trajectory prompts the question: Do markets face the prospect of a housing bubble once again? Alternatively, are price increases in step with housing market fundamentals?
September 28, 2021
Dallas Fed Economics
Fed’s mortgage-backed securities purchases sought calm, accommodation during pandemic
We explore the Federal Reserve’s purchases of agency MBS—mortgage bonds guaranteed by Ginnie Mae, Fannie Mae and Freddie Mac—and related market dynamics during the pandemic, including why mortgage rates fell to historic lows.
August 26, 2021
Dallas Fed Economics
Surging house prices expected to propel rent increases, push up inflation
The inflation rates of rent and owners’ equivalent rent (OER)—the amount of rent equivalent to the cost of ownership—have declined sharply since the COVID-19 pandemic began in February 2020. However, we expect rent inflation and OER inflation to accelerate in the years to come.
August 24, 2021
Dallas Fed Economics
Private subprime mortgages challenged FHA during 2000s housing boom
Considerable research has been devoted to better understanding the meteoric rise of the PLS subprime mortgage market in the early-to-mid 2000s. But an important aspect has been largely ignored: The simultaneous decline in mortgage originations with Federal Housing Administration (FHA) insurance.
May 11, 2021
Dallas Fed Economics
COVID-19 exposes mortgage market vulnerabilities that led to volatility, Fed intervention
The COVID-19-induced financial market shock in March 2020 significantly disrupted the market for agency mortgage-backed securities.
February 02, 2021