US Housing: the recovery’s over – what’s next?
Following a long recovery, the US housing and housing finance markets are facing a more complex environment where home affordability has been decreasing across broad segments. This page highlights key research on this topic.

    05 Nov 2019|Moody's Investors Service
    Lack of affordable housing and rising homelessness are social and financial strains on many public finance issuers, posing credit risks associated with expenses, leverage and other factors.

    04 Nov 2019|Moody's Investors Service
    A resurgence in state housing finance agencies' (HFA) bond-funded loan originations will continue to improve HFA balance sheets well into next year, providing a more stable, recurring source of revenue versus loan sales in the secondary market.
    17 Oct 2019|Moody's Investors Service
    Bond issuance by state housing finance agencies (HFAs) has grown significantly in 2019 and is likely to end the year at another post-recession high. The continued rise in issuance is credit positive because HFAs are adding to their balance sheets profitable mortgage assets that generating stable, recurring revenues which better match HFAs' expenses.

    13 Sep 2019|Moody's Investors Service
    Although the government’s proposals would limit the role of the federal housing finance agencies, the basic framework of the US mortgage financing system would remain intact under the proposals most likely to be implemented, which is a credit positive for private mortgage insurers.

    06 Sep 2019|Moody's Investors Service
    The Treasury’s recommended housing reforms could be credit negative for the GSEs due to the potential for reduced government support.The proposals could open opportunities for other lenders.