Tag Archive for ‘economics’

A Broader Perspective on Commuting to Work

A recent Census release discussed changes in bicycling and walking to work since 2000. There’s clearly interest in this topic, as local governments have actively promoted walking and bicycling, sometimes as explicit criteria for new development. A broader perspective may also be useful, so this post considers additional ways of getting to work, including the ones used most often. Like… Read More ›

Residential Construction Employment Up More Than 300,000 Since Start of 2011

The number of open, unfilled construction sector jobs posted a small increase in June, as the count of job gains in the residential construction sector passed the 300,000 mark since cycle lows. According to the BLS Job Openings and Labor Turnover Survey (JOLTS), the number of open construction sector jobs increased on a seasonally adjusted basis from a downwardly revised 125,000 in May to 127,000 in… Read More ›

Mortgage Delinquency Rates Continue to Improve

Data released by the Mortgage Bankers Association (MBA) indicates that the delinquency rate for mortgage loans on one-to-four-unit residential properties, considered single-family properties, decreased to a seasonally adjusted rate of 6.04% of all loans outstanding at the end of the second quarter of 2014, 7 basis points less than its level in the first quarter of 2014 and 92 basis… Read More ›

Immigrant Homeownership

Immigrants can have a large impact on housing demand. Research from NAHB in 2012 demonstrated that using the low end Census projections on net immigration (1.2 million annually), after 10 years new immigrants would occupy 2 million multifamily units and 1.2 million single-family homes. In addition, the Research Institute for Housing America projects that from 2010 to 2020, immigrants will account… Read More ›

Builder Confidence in the 55+ Market Again Positive

Builder confidence in the single-family 55+ housing market was up again on a year-over-year basis in the second quarter, according to NAHB’s 55+ Housing Market Index (HMI).  Compared to the second quarter of 2013, the 55+HMI for new single-family housing increased three points to 56–the highest second-quarter reading since the inception of the index in 2008 and the 11th consecutive quarter of year… Read More ›

Global House Prices Continue to Tick Up

House price appreciation has slowed in the past several months in the US. An international comparison places recent US price changes in sixth place. Global house prices rose 0.39% for the first quarter of 2014, as prices increased for the fifth consecutive quarter. According to the Globalization and Monetary Policy Institute of the Federal Reserve Bank of Dallas global house… Read More ›

FED SLOOS Details Impact of New Mortgage Rules on Approval of Mortgage Apps

The Federal Reserve Board recently released its survey of senior bank loan officers. The July 2014 Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) addressed changes in the standards and terms on, and demand for, bank loans to businesses and households over the second quarter of 2014. In the July 2014 iteration of the Survey, the Federal Reserve… Read More ›

Affordability Pyramid Shows Housing Market is Bottom Heavy

With the release of the 2014 Priced Out estimates, NAHB Economics revised its affordability pyramid that translates U.S. household income data into a distribution of homes that households can afford by price range. At the base of the market for housing is a large number of households with relatively modest incomes. The homes that these households can afford are also relatively… Read More ›