Federal Reserve Bank of San Francisco

Community Development

Housing Market Recovery in the 12th District: Implications for Low- and Moderate-Income Communities

Author(s): Laura Choi

August 2013

Community Development Research Briefs

Following the aftermath of the Great Recession, national indicators are starting to show signs of improvement in the housing market. However, such indicators mask the realities of what’s happening on the ground in low- and moderate-income (LMI) communities that were disproportionately affected by the housing crisis. Complicating matters is the unprecedented role of investors in the housing recovery and the changing nature of local housing markets. There are pressing concerns around the potential impact of investor ownership on communities, tightening rental markets, and the ongoing challenges of preserving affordability for LMI households. This Research Brief provides an overview of these issues and examines housing market recovery and investor activity in the Federal Reserve’s 12th District.

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