Awarded a two-year grant from the Russell Sage Foundation for Research into Household Wealth Impacts of the Recession

Using three sources of rich data about households, their financial decisions and their housing situations – the American Housing Survey, the Health and Retirement Survey, and a New York City subsample of the Federal Reserve Bank of New York Consumer Credit Panel – and regression techniques, we will examine potential behavioral changes in savings, credit and debt repayment, retirement and retirement reversals, household composition, transfers to the next generation, educational investments, and expenditures on home maintenance and improvement. We will then assess the long-term consequences that changes in housing wealth and behavioral adjustments to those changes will have for the households, communities, and society.