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The Effect of Mortgage Forbearance on House Prices During COVID-19

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Abstract

The contrast between the labor market and house prices during the pandemic has been stark. In this note, we document a strong positive relationship between forbearance takeup and house price growth at the county level, controlling for the unemployment rate and other factors.

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  • Elliot Anenberg & Tess C. Scharlemann, 2021. "The Effect of Mortgage Forbearance on House Prices During COVID-19," FEDS Notes 2021-03-19-2, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2021-03-19-2
    DOI: 10.17016/2380-7172.2872
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    File URL: https://www.federalreserve.gov/econres/notes/feds-notes/the-effect-of-mortgage-forbearance-on-house-prices-during-covid-19-20210319.html
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    Cited by:

    1. Kristopher Gerardi & Lauren Lambie-Hanson & Paul S. Willen, 2022. "Lessons Learned from Mortgage Borrower Policies and Outcomes during the COVID-19 Pandemic," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2022(9), July.
    2. Sean Chanwook Lee & Omeed Maghzian, 2023. "Household Liquidity and Macroeconomic Stabilization: Evidence from Mortgage Forbearance," Working Papers 23-12, Federal Reserve Bank of Boston.
    3. Karen Pence, 2022. "Liquidity in the mortgage market: How does the COVID‐19 crisis compare with the global financial crisis?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1405-1424, November.

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