Business Services Industry
Housing finance: a long-term perspective
Business Economics, July, 1997 by David Lereah
Efforts to expand IRA provisions to allow for first-time homebuyers to withdraw funds for a purchase of a home looks ever more likely this coming year. More than 15 million first-time home buyers have entered the housing market during the 1990s, yet the surge of immigrants into the United States over the past two decades provides further growth opportunities for the first-time home-buyer market. The expanded IRA could be expected to add 45,000 additional households to the homeownership ranks each year.
David Lereah is Chief Economist & Senior Staff Vice President, Mortgage Bankers Association, Washington, DC.
COPYRIGHT 1997 The National Association for Business Economists
COPYRIGHT 2004 Gale Group
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