Essays on Housing Policy and Community Development

This paper includes three papers on housing policy and community development. In chapter 1, it is considered whether Fannie Mae and Freddie Mac were forced to receive loans from disadvantaged people, according to the 1992 bill, which is the cause of the subprime crisis. In chapter 2 we will consider whether plans to provide housing support to homeless people can reduce chronic homelessness. Finally, Chapter 3 examines whether municipal administration will control fiscal policy during the election year.

Under the GSE Act of 1992, a certain percentage of purchases of Fannie Mae and Freddie Mac was stipulated to be from disadvantaged people. Some famous observers noted that the GSE bill is the root cause of the recent housing crisis. In Chapter 1, we evaluate the relevance between the GSE method and the standard of the mortgage market. We analyzed whether the affordable housing goals of GSE have changed the mortgage or purchase decision, using loan application level data from the mortgage disclosure law. To identify this effect, we used a regression discontinuity design using arbitrary cutoff to determine if the loan meets the goals of the GSE bill. We found that affordable housing goals of GSE had little impact on mortgage loans and purchases. In addition, using regional data from the census, affordable housing goals of the GSE bill have been found to be irrelevant to increases in foreclosures, vacancies, or other housing results. These results show that the influence of the 1992 GSE Act on the recent mortgage market crisis is negligible.

In chapter 2 we will consider whether plans to provide housing support to homeless people can reduce chronic homelessness. I analyzed data from the Ministry of Housing and Urban Development of 130 communities in the United States between 2005 and 2007. Since the amount of federal funds allocated to the community to fight homeless may depend on features not observed by the community, the effect model is fixed to study the new federal homeless fund for chronic homeless people It is presumed that it was done. Impact I have discovered that by increasing the funds for homeless programs you can reduce chronic homelessness. The homeless of the Commonwealth is increased by 1 dollar per capita, and the homeless population per 100 thousand homeless people is reduced by 80 people, or 8%. According to a new financial analysis of a particular type of homeless program, this relationship is brought about by a plan to provide long-term residence and services to disabled homeless people. These results show that the first year of moving long-term homeless people to a permanent and supportive home will cost $ 5,500.

Chapter 3 examines whether municipal administration will operate fiscal policy during the election year. According to the hypothesis of the political budget cycle, in the election campaign, senior government officials will manipulate the opportunistic fiscal policy on election revenues. In this paper we will examine this assumption using tax and expenditure data from 268 US cities in the United States from 1970 to 2004. Although our estimate does not provide evidence of gross expenditures or changes in taxes during the election year, we will find evidence of employment operations during the election year. Total employment of municipalities, including increased police, education and health related employment, was found to have increased by 0.7%.

The Federal Reserve Housing Policy provides housing for the protected area community. Residential programs funded by Canadian mortgage companies, housing companies, and state governments are not reserved. The current Federal Housing Policy emphasizes community management, regional participation, links to economic development and employment. Indigenous peoples of the Convention believe that their residence requirements can be dealt with better as part of a comprehensive and comprehensive approach to indigenous health. Every arrangement to deal with the housing problem should consider the funding needs to promote the long-term plan and allow indigenous peoples of the treaties to benefit from the economies of scale.

The Housing Community Development Department (HCD) plays a major role in the field of land use and community development. Its mission is to "provide leadership, policies and programs to protect and expand safe and affordable housing opportunities and promote a powerful community for all Californians." In order to promote climate adaptation throughout California, HCD can develop state-wide housing policies, mobile housing monitoring and community development subsidy programs.