Housing Finance Working Paper Series
HF-010, The Property Owners and Managers Survey and the Multifamily Housing Finance System, by William Segal, September 2000.
The HUD Property Owners and Managers Survey (POMS) can be utilized to analyze a number of housing-finance related policy issues. This paper offers some findings relevant to multifamily finance from preliminary analysis of POMS data, offered in the spirit of illustrating potential uses of the data base. Adjustment techniques to correct for the effects of data truncation are developed and are applied to derive estimates of number of units per property, the size of the multifamily mortgage stock, and the magnitude of annual mortgage origination volume. Mortgage origination volume for 1995 is estimated using both a “hot-deck” and a regression-based imputation approach. Results from the internal POMS file at the Census Bureau as well from the public-use version of the file are included here. Advantages and shortcomings of POMS in relation to a number of other multifamily data sources are noted, as are possible directions for future research.