Eye On Housing
Author Archives
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Property Tax Revenue Grows Over Four Percent
NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›
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Housing Share of GDP Expands
With the release of the final estimates of first quarter 2016 GDP growth (revised up two-tenths to a 1.1% growth rate), housing’s share of gross domestic product (GDP) ticked up slightly to 15.4%. The home building and remodeling component – residential fixed investment – as a share of GDP expanded to 3.4%. Housing-related activities contribute to GDP in two basic… Read More ›
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Increase in Energy Prices Drives Producer Price Index Higher
Inflation in prices received by producers (prior to sales to consumers) rose 0.4 percent in May according to the latest Producer Price Index release by the Bureau of Labor Statistics. The increase—double that of the 0.2 rise in April—was 60-percent driven by the prices of goods, which climbed 0.7 percent. The final demand index for services increased by a more modest… Read More ›
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Prices of Building Materials Increases in April, Like Most Goods
Inflation in prices received by producers (prior to sales to consumers) rose 0.2% in April according to the latest Producer Price Index release by the Bureau of Labor Statistics. The gains were broad-based as the prices for goods and services which posted increases of 0.2% and 0.1%, respectively. Prices for goods advanced 0.2% as declines in prices for trade, transportation,… Read More ›
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Homeownership Tax Benefits Totaled More Than $100 Billion in 2014
Homeowners saw their tax bills trimmed by more than $100 billion in 2014 according to estimates by the Joint Committee on Taxation (JCT) and NAHB analysis. The mortgage interest deduction (MID) alone accounted for $72.4 billion in tax savings, while the real estate tax deduction (RETX) saved homeowners an additional $30.2 billion. Rounding out the group of tax advantages is… Read More ›
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State of Federal Government Finances
As it does every year, the Congressional Budget Office (CBO) has released an update to its 10-year baseline budget projections published in January. Individuals as well as businesses of all sizes should take note; the picture that CBO paints of the future of federal government finances remains worrisome despite some improvements registered after the end of the Great Recession. Higher… Read More ›
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Property Tax Revenue Grows Nearly Four Percent
NAHB analysis of the Census Bureau’s quarterly tax data shows that $519 billion in taxes were paid by property owners over the four quarters ending in Q3 2015. This represents a $19 billion—or 3.9%—increase over the previous trailing four quarters, the largest annual increase since early 2010. Property taxes accounted for 39.1% the largest share, of state and local tax… Read More ›