Anyone who has purchased or refinanced a home has experienced the onslaught of paperwork at the closing table. Presumably, there is ample opportunity for lenders and researchers to correlate housing data with home owners. However as the Fed researcher in the article states, it’s quite difficult to get accurate and relevant research on foreclosures and delinquencies.
“For those of us who want to understand how the foreclosure crisis has affected borrowers and communities, it is frustrating to not have access to publicly available data that can really help us to understand what happened and why,” said Carolina Reid, a research manager for the Federal Reserve Bank of San Francisco.
We will never implement the most appropriate and intelligent housing regulation until there is better measurement & analysis of housing data. It’s a giant lead ball attached to the leg of the housing industry and no one has a clue how to cut the chain.