Author Archives

  • More Labor Market Reporting: Job Openings Increasing But Construction Lags

    March data from the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) indicate that job creation is slowly gathering momentum, but the construction sector, including home building, continues to lag behind. The JOLTS data come from a monthly survey of businesses, which reports information regarding job openings, new hires, layoffs, quits and other departures. As we discussed before, we believe there exists… Read More ›

  • New Analysis Examines Housing Affordability by Race/Ethnicity

    A new paper by NAHB economist Rose Quint examines differences in housing affordability for different racial and ethnic groups in the United States. Using data related to the NAHB / Well Fargo Housing Opportunity Index (HOI), the report finds stark difference among various population groups. The HOI was launched in the first quarter of 1991 and has been published quarterly during the past… Read More ›

  • Another Week, Another Complicated Tax Proposal

    Unveiling large-scale proposals involving the nation’s tax code is becoming a regular occurrence among think-tankers and academics in Washington D.C. In recent months, most of these proposals have shared certain common features: Incomplete on details No transition rules Significant reductions for itemized deductions Significant net tax increases, albeit with promised lower marginal rates Homeowners and anyone involved in the housing… Read More ›

  • Remodeling Market Headed to Recovery

    The National Association of Home Builders Remodeling Market Index (RMI) increased to 46.5 for the first quarter of 2011 from its previous reading of 41.5 at the end of 2010. This is the highest level for the RMI since the end of 2006. However, the fact that the RMI remains below 50 indicates that still more remodelers report activity is lower… Read More ›

  • Homeownership Declines Hitting Younger Households Hardest

    Recently published data from the Census Bureau indicate that the homeownership rate declines that have occurred during and after the Great Recession are taking an increasing toll on the under-age-35 cohort. The homeownership rate for this age group declined from 39.2% to 37.9% from the last quarter of 2010 to the first quarter of 2011 alone. This decline suggests caution… Read More ›

  • State of the Nation’s Rental Housing

    Harvard’s Joint Center for Housing Studies has published a new report on the state of rental housing in the United States – America’s Rental Housing: Meeting Challenges, Building on Opportunities. The report notes that with little new multifamily supply in the pipeline (multifamily starts for 2010 totaled only 116,000) and a decreasing rental vacancy rate, rents could rise quickly over… Read More ›

  • Tax Day Post: Federal Tax Revenues

    Today, the filing deadline for 2010 tax returns, we finish our look at tax statistics after previously examining how businesses in the construction sector pay taxes and recent policy proposals concerning the deficit and the housing tax incentives. Individual tax revenues, which include taxes paid on income from pass-thru businesses, declined during the Great Recession but are expected to rebound with… Read More ›

  • Beige Book: General Economic Improvement

    The Federal Reserve published its latest Beige Book this week. The report provides a summary of economic activity and conditions, collected through interviewers with key market contacts in the Fed’s districts. The April Beige Book found that improvements in economic activity in most districts was just “moderate” but “widespread across sectors.” Overall, the report’s findings concerning tight business lending conditions and only moderate… Read More ›

  • Health Care Law’s 1099 Reporting Requirement Repealed

    President Obama has signed into law legislation that repeals onerous new reporting and paperwork requirements. This is good news for small businesses. Under last year’s Patient Protection and Affordable Care Act, taxpayers would have been required in 2012 to submit IRS Form 1099 for payments made to every corporations in the course of a trade or business that totaled more… Read More ›

  • Individual Tax Policy: The President’s New Deficit Proposal

    Continuing our look at taxes prior to the April 18th filing deadline, we move from business tax statistics for the construction sector to individual taxes. As anyone who receives an IRS Form 1098 knows, individual tax policy is important for homeowners. And as we demonstrated in the previous post on taxes and the construction sector, individual tax rates are business tax… Read More ›