HOUSING

Descriptive and empirical analyses of the Residential Finance Survey
Department of Housing and Urban Development

The Residential Finance Survey (RFS) is the single most valuable source of information on the evolution of the American housing finance system. The Census Bureau has conducted the RFS at 10-year intervals since the 1950 census. The 2001 RFS has a large sample that accurately represents all types of housing, with detailed information on all aspects of mortgage finance, including junior mortgages and home equity lines of credit. Data were gathered from both the owners of the mortgaged property and the lenders who service the loans.

Under this contract, Econometrica is using the 2001 RFS to provide both descriptive and empirical analyses of the single-family owner and multifamily/rental mortgage markets. Our descriptive analysis is characterizing the single-family and multifamily mortgage markets in 2001 and identifying trends and changes in mortgage finance since 1991. Our empirical analysis is examining several special topics in mortgage finance, covering both the single-family and multifamily markets.