The Future of Housing Market Policy
The Maryland Center for Economics and Policy will host a panel discussion on the Future of Housing Market Policy, on Monday, March 30th from 4 to 5:15 p.m. in McKeldin Library's special events room.
The program will feature three distinguished panelists:
- Dr. Edward DeMarco, Senior Fellow, Milken Institute Center for Financial Markets
- Dr. Phillip Swagel, Professor of Public Policy, University of Maryland
- Dr. Lawrence Yun, Chief Economist, National Association of Realtors.
The collapse of the housing market during the Great Recession has been blamed on policies that made it too easy for families to take on debt they could not afford. While everyone can agree we do not want to repeat that experience, there is less agreement on the right mix of policies for ensuring future stability in the housing market without jeopardizing access to homeownership for middle class families. The panel will discuss the current state of the housing market and the options for housing policy reform. Dr. Katharine Abraham, Director of the Center, will moderate.
More on the panelists and the moderator:
Dr. Edward DeMarco is a Senior Fellow in Residence at the Milken Institute Center for Financial Markets and a Visiting Professor in the Owen Graduate School of Management at Vanderbilt University. He is a member of the Comptroller General’s Advisory Board for the U.S. Government Accountability Office and a Fellow of the National Academy of Public Administration. From September 2009 to January 2014 DeMarco served as Acting Director of the Federal Housing Finance Agency (FHFA), the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. DeMarco was the Chief Operating Officer and Senior Deputy Director of FHFA and its predecessor from 2006 to 2009. DeMarco received a B.A. in Economics from the University of Notre Dame and a Ph.D. in Economics from the University of Maryland.
Dr. Phillip L. Swagel is Professor in International Economic Policy at the Maryland School of Public Policy. Swagel comes to MSPP from the McDonough School of Business at Georgetown University, where he served as a visiting professor teaching classes on the relationship between financial markets and the economy. Swagel was also the director of the McDonough School's Center for Financial Institutions, Policy, and Governance. He is a non-resident scholar at the American Enterprise Institute. Swagel was Assistant Secretary for Economic Policy at the Treasury Department from December 2006 to January 2009. He served as a member of the TARP investment committee, and was responsible for analysis on issues including housing, financial markets, healthcare, pensions, and macroeconomic forecasts. Swagel was previously chief of staff and a senior economist at the White House Council of Economic Advisers, and was an economist at the IMF and the Federal Reserve Board. He has taught courses on domestic and international economics at Northwestern University and the University of Chicago Booth School of Business. He received a bachelor's degree in economics from Princeton University in 1987 and a PhD in economics from Harvard University in 1993.
Dr. Lawrence Yun is Chief Economist and Senior Vice President of Research at the National Association of Realtors®. He oversees and is responsible for a wide range of research activity for the association including NAR’s Existing Home Sales statistics, Affordability Index, and Home Buyers and Sellers Profile Report. He regularly provides commentary on real estate market trends for its 1 million REALTOR®members. Dr. Yun creates NAR’s forecasts and participates in many economic forecasting panels, among them Blue Chip and the Harvard University Industrial Economist Council. He appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States, and has testified before Congress. USA Today in 2008 listed him among the top 10 economic forecasters in the country and he has been named among the Most Influential Real Estate Leaders by INMAN News over the past several years. Dr. Yun received his undergraduate degree from Purdue University and earned his Ph.D. from the University of Maryland.
Dr. Katharine G. Abraham is Director of the Maryland Center for Economics and Policy, Professor of Economics, and Professor of Survey Methodology. She joined the University of Maryland faculty in 1987, after holding prior positions at MIT’s Sloan School of Management and the Brookings Institution. She served as Commissioner of the Bureau of Labor Statistics from 1993 through 2001 and as a Member of the President’s Council of Economic Advisers from 2011 through 2013. Abraham is a Research Associate of the National Bureau of Economic Research. Iowa State University awarded her an honorary doctorate in 2002. She was the recipient of the Julius Shiskin Award for Economic Statistics in 2002, the Roger Herriot Award for Innovation in Federal Statistics in 2010, and the Susan C. Eaton Scholar-Practitioner Award of the Labor and Employment Relations Association in 2013. She was elected a Fellow of the American Statistical Association in 2003 and a Fellow of the Society of Labor Economists in 2007. Abraham received her B.S. from Iowa State University in 1976 and her Ph.D. from Harvard University in 1982, both in economics.
The panel discussion will be followed by a happy hour reception. Food and drinks will be provided, along with the chance to mingle with panelists, department faculty, current student and alumni.