Working Paper
The Price of Housing in the United States, 1890–2006
WP 24-12/R – This paper introduces new rental and home sales price series for the 20th century constructed from historical newspapers, and it explores the different rent and home price trajectories of cities across the United States.
Featured Work
Working Paper
Capitalization as a Two-Part Tariff: The Equilibrium Structure of Housing Prices
WP 19-20/R – Housing is more expensive in desirable neighborhoods. But does the premium emerge at the extensive (per housing unit) or intensive (per living space) margin?
Working Paper
Can LLMs Credibly Transform the Creation of Panel Data from Diverse Historical Tables?
WP 25-28 – Multimodal LLMs are fast and cost effective at digitizing historical tables. Data from our LLM-based digitization pipeline achieve 98.6 percent fidelity and are statistically indistinguishable from manually digitized data.
Working Paper
The Bronx Is Burning: Urban Disinvestment Effects of the Fair Access to Insurance Requirements
WP 25-16 – This study examines the consequences of FAIR plans in the 1960s and 1970s. Though meant to address insurance redlining, these plans unintentionally created moral hazard, leading to housing disinvestment and neighborhood change.
Featured Data

Manufacturing Business Outlook Survey
Monthly survey of manufacturers in the Third District
Updated: 16 Oct '25

State Leading Indexes
Six-month forecast of the coincident index for each of the 50 states
Updated: April 29, 2020

COVID-19 Business Outlook Survey
Special survey (now monthly, previously weekly) of firms in the Third District
Updated: 23 Dec '20

State Coincident Indexes
Monthly index of general economic conditions for each of the 50 states
Updated: 24 Sep '25

Nonmanufacturing Business Outlook Survey
Monthly survey of nonmanufacturing businesses in the Third District
Updated: 23 Sep '25

Third District Beige Book
Qualitative assessment of economic conditions in the Third District released prior to each FOMC meeting
Updated: 15 Oct '25