Policy rss

NAHB Survey: AD&C Financing Standards Continue to Ease

Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C Financing. However, the pace of easing slowed somewhat in the third quarter of 2016 from the rate in the second quarter. In the third quarter of 2016, the overall net tightening index based on the AD&C survey was… Read More ›

FHA Mortgage Share Increased in 2015

Recent data released under the Home Mortgage Disclosure Act (HMDA) on mortgage loans indicates that the FHA-insured share of all 1-4 family mortgage originations in owner-occupied homes increased in 2015. At the same time, refinancings relative to home purchase and home improvement mortgages also rose, especially for FHA-insured mortgages. The HMDA was enacted by Congress in 1975 and was implemented… Read More ›

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 ›

Independent Mortgage Companies Account for Most Home Purchase Mortgage Lending

In recent years, housing analysts have reported on the expansion in mortgage lending activity by nonbank financial institutions. Given recent activity, regulatory officials have expressed their interest in the lending activities at nonbank financial institutions. Nonbank consumer lenders can include pools such as hedge funds and they also include specialty finance companies such as auto finance companies. Another nonbank lending… Read More ›

15% Tariff on Canadian Lumber Would Cost 4,666 U.S. Jobs

Recent NAHB estimates show that a 15% tariff on softwood lumber imported from Canada would have resulted in a loss of had it been applied to all Canadian producers in 2014.  NAHB analyzed 15%, because that was the maximum tariff in the Softwood Lumber Agreement that expired last year.  NAHB analyzed 2014, because that was a recent year with complete data, seemed representative… Read More ›

Share of Remodelers Reporting Labor Shortages Climbs Even Higher

Eighty percent of remodelers reported a shortage of finished carpenters (and 41 percent said the shortage was serious), according to special questions on NAHB’s Remodeling Market Index (RMI) survey in the 3rd quarter of 2015. That’s 8 percentage points higher than NAHB remodelers were reporting just a year ago. The RMI survey asked remodelers about availability of labor in the 12 categories recommended by Home… Read More ›

Slow Rise in Consumer Prices in July

The Bureau of Labor Statistics (BLS) reported consumer prices increased in July. The Consumer Price Index (CPI) rose at a seasonally adjusted annual rate of 1.6%, slower than 3.9% in June. Excluding the volatile food and energy components, the “core” CPI rose at a seasonally adjusted annual rate of 1.6% in July. Energy prices were stabilized and rose at a… Read More ›

International Perspective: The VAT and Housing

***The following post was authored by NAHB’s Economics and Housing Policy Group’s summer intern, Emily Condos. Value Added Taxes (VAT) are a reliable source of revenue for many governments, with the United States being a notable exception with respect to their use. The taxation of housing is a key element in designing a VAT. An overly broad tax base with… Read More ›