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Joshua J. Miller, Ph.D., is a Housing Policy Economist with the National Association of Home Builders where his responsibilities include monitoring government policies relating to local economic development, impact fees, and energy policies. Dr. Miller conducts statistical and economic research on various homebuilding regulation and housing policy topics, including the economic impact of home building. His areas of responsibility include state and local finances, housing finance, and homeownership issues. Prior to joining NAHB, Dr. Miller was a research assistant at the University of Illinois – Institute of Government & Public Affairs. He has a Ph.D. in Economics from the University of Illinois at Chicago.

• Property Tax Remains Largest Revenue Source

  By Josh Miller on September 24, 2013 • (12)

  

  According to the latest data from the Census Bureau, taxes paid by homeowners and other real estate owners remain the largest single source of revenue for state and local governments. At 34%, property taxes represent a significantly larger share than the next largest sources: individual income taxes (24%) and sales taxes (21%). State and local government property tax collections continue to increase… Read More ›

  Tags: economics, homebuilding, housing, property taxes

• The Delayed American Household

  By Josh Miller on September 20, 2013 • (0)

  

  According to a recent report by the Census, married couples with children account for only 19.6% of all households in the U.S.  The new figure represents a drop of 4.5 percentage points from 2000 when 24.1% of all households in the U.S. were married couples with children. The share of total households in 1970 was 40.3%. As the share of… Read More ›

• Consumer Prices Increasing at a Slower Pace

  By Josh Miller on September 17, 2013 • (0)

  

  In August, consumer prices rose by 0.1% on a seasonally adjusted month-over-month basis according to data released by the Bureau of Labor Statistics (BLS). Over the past twelve months, prices on expenditures made by urban consumers increased 1.5% before seasonal adjustments. The August release shows a slower pace of growth in prices for urban consumers for the second consecutive month…. Read More ›

• New Index Shows Regulation High in New England, Pacific States

  By Josh Miller on September 12, 2013 • (3)

  

  A recent study is the first to construct an annual measure of housing supply regulations for the contiguous United States. The new housing supply regulation index constructed by Peter Ganong and Daniel Shoag examines the scaled count of state appeals court decisions that mention “land use.” States with a higher share of court decisions mentioning “land use” are thought to… Read More ›

  Tags: Housing Supply, Land Use Regulation

• Consumers Expecting Higher Interest Rates

  By Josh Miller on September 4, 2013 • (0)

  

  Another set of monthly mixed results for consumer confidence was reported as the Consumer Sentiment Index decreased while the Consumer Confidence Index increased slightly. According to Thomson Reuters and the University of Michigan, the Consumer Sentiment Index fell in August by 3 points from the previous month’s six-year high of 85.1. Meanwhile after declining in July, the Conference Board reported that the Consumer… Read More ›

  Tags: consumer confidence, interest rates, new home sales

• Construction Spending: Improving at a Slower Rate

  By Josh Miller on September 3, 2013 • (9)

  

  Total private residential construction spending increased marginally to a seasonally adjusted annual rate of $334.6 billion in July 2013 according to Census estimates. Spending continues to improves, but remains well below the peak pace of $676.4 billion in March 2006. The current reading is 17.2% higher than a year ago. Single-family spending registered a slight increase of 0.5% for the month, while the home improvement category… Read More ›

  Tags: construction spending, multifamily, remodeling, single-family

• More Americans Move in 2012

  By Josh Miller on August 27, 2013 • (0)

  

  According to the Current Population Survey (CPS) conducted by the U.S. Census Bureau in 2012, 35.3 million individuals moved within the United States. This increase in moves is an important component of pent-up housing demand. An individual is classified as a mover if the place of residence at the March survey differs from the place of residence one year earlier…. Read More ›

• Living at Home as an Investment

  By Josh Miller on August 21, 2013 • (0)

  

  Even with improving economic conditions, a record number of Millennials live with their parents. According to a recent study published by the Pew Institute, the share of the U.S. population aged 18 to 31 living in their parent’s home increased to 36 percent or a record 21.6 million young adults in 2012. The share of the same age group living with… Read More ›

  Tags: college enrollment, Millennial, multigenerational households

• Home Builders and Remodelers Enter Industry Even During Downturn

  By Josh Miller on August 8, 2013 • (3)

  

  According to the Statistics of U.S. Businesses (SUSB), the annual series compiled by the Census Bureau, 20,000 home builders and remodelers entered the industry each year of the recent economic downturn. During 2010, the latest year data are available, the number of home builders and remodelers entering the market increased by 8 percent while the number leaving decreased by nearly… Read More ›