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Big Federal Stimulus, Home-Value Spike Won’t Ease Next Slump

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  • Jason L. Saving

Abstract

Historically large federal transfers coupled with rapid home-price appreciation bolstered state and local revenue in Texas, softening the economic impact of COVID-19 on vulnerable populations. Ultra-low interest rates and a historic housing boom that aided state and local government operations are fading, suggesting Texas policymakers may encounter additional difficulties during the next downturn.

Suggested Citation

  • Jason L. Saving, 2022. "Big Federal Stimulus, Home-Value Spike Won’t Ease Next Slump," Southwest Economy, Federal Reserve Bank of Dallas, issue Third Qua.
    • Handle: RePEc:fip:feddse:94951
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