BPC Blog

Throughout the week, the BPC Housing Commission highlights news items that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center. What We're Reading posts include a compilation of useful links in the Housing Visualized section below. These resources offer the latest economic indicators, expert insight, and statistical trends related to the U.S. housing market.

Housing Visualized

2010 Census l Mapping the Census l Comparing Recessions and Recoveries Infographic: Rental Housing Market Trends l Housing by the Numbers Infographic: Household Formation Gap l Who Gains Most From Tax Breaks Infographic: Housing's Economic Impact l Measuring Economic Mobility Past Commissions and Reports l Trulia’s Housing Barometer Credit Conditions l U.S. Housing Summary l Mortgage Data Changes in Home Prices l Wells Fargo Monthly Economic Outlook WF Real Estate & Housing Reports l Prices and Inventory by Metro Area


Housing Market Shows Fastest Rate of Recovery Since Before the Crash By Hari Sreenivasan PBS Newshour "New reports show a spike in U.S. home prices, rising at the fastest pace since 2006. To learn what's driving this recovery, Hari Sreenivasan talks with Nicholas Retsinas of the Harvard Business School." Read more here.

 

Our nation faces increasingly complex challenges, requiring the best and brightest public servants to solve these problems.

Throughout the week, the BPC Housing Commission highlights news items that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.

Americans are digging themselves out of mortgage debt

"Home equity in the first quarter rose to $6.7 trillion, the highest level since 2008, as homeowners taking advantage of record-low borrowing costs to refinance their loans brought cash to the table to pay down principal. The 7.3 percent gain was the biggest jump in more than 60 years, according to Federal Reserve data." Read more here.

In case you missed it, here's what they've been saying about BPC this week


 

Governor Haley Barbour in The Washington Post

“I am very comfortable with a path to citizenship,” Barbour told reporters at a Bipartisan Policy Center briefing. “It should be more strenuous than the path for people who come here under the regular rules.”

 

BPC's Financial Regulatory Reform Initiative regularly highlights news articles, papers, and other important work which illuminate current and new thinking within financial regulation. We circulate these articles to provide a full view of cutting edge ideas, reactions and positions. The views expressed in these articles do not necessarily represent the views of the initiative, its co-chairs, task force members, or the Bipartisan Policy Center.

Compiled by Aaron Klein, Justin Schardin, and Shaun Kern


Have a great Memorial Day weekend. As you enjoy the holiday and time with your family and friends, here are a few financial reform highlights, including BPC’s first white paper addressing whether the resolution process established in Dodd-Frank is working to solve the ‘too big to fail’ problem.

Recorded border incidents declined from nearly 2 million in FY 2006 to just over 500,000 in FY 2011

The Border Security, Economic Opportunity, and Immigration Modernization Act (S.744, or the Gang of Eight bill) establishes a 90 percent “effectiveness rate” as a goal for each of the nine separate sectors along the southern border. Originally, the bill only required this to be achieved in high-risk sectors, or one “in which more than 30,000 individuals were apprehended during the most recent fiscal year.” At Senate Judiciary Committee Markup, the first amendment Senator Grassley filed struck all references to high risk sectors. This amendment passed by voice vote, meaning these changes will be incorporated into the legislation as it moves to the Senate floor.

Yesterday, the House Appropriations Committee approved spending allocations totaling $966.9 billion to its 12 sub-committees. The Senate has set its course for a level of $1.058 trillion, thus virtually ensuring a confrontation over Fiscal Year (FY) 2014 discretionary spending.

New extraordinary measures would provide approximately $260 billion of room under the debt limit

On February 4, 2013, the president signed H.R. 325, legislation that suspended the debt limit until May 19. The Daily Treasury Statement for Monday, May 20 indicated that the statutory debt ceiling, which was reinstated over the weekend, rose by about $305 billion to $16.7 trillion (or $16,699,421 million, to be exact).

Yesterday, Dr. Alice Rivlin testified before the House Ways and Means Subcommittee on Health and laid out a specific pathway to move our health care system away from fee-for-service reimbursement and toward paying for quality and value. Dr. Rivlin argued that the current Accountable Care Organizations (ACOs) should be improved to provide strong incentives for providers to form and beneficiaries to join them. The hearing also focused on the potential for Medicare benefit redesign to give seniors and people with disabilities an improved, more rational insurance product.

Throughout the week, the BPC Housing Commission highlights news items that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.

What if everything we’ve been told about the financial crisis is wrong?

By Paul Jackson

HousingWire

"Fed economists Christopher Foote, Kristopher Gerardi, and Paul Willen apparently decided the time has come to try to unplug at least some people from a financial markets version of The Matrix: that is, common knowledge about the financial crisis and associated housing collapse. And their paper makes for gripping reading to anyone who has spent the majority of their professional life in the financial markets. In various turns, the authors end up arguing that much of what we think we know about the financial crisis is, in fact, not actually rooted in fact at all." Read more here.

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