House Sharing is Not Just for Young Adults
Traditionally appealing to students and young professionals, house sharing arrangements are gaining popularity among older adults.
Category: Policy Research
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Homeownership Rate Dips to Five-Year Low
The homeownership rate declined to 65.1% in the first quarter of 2025, the lowest level since the first quarter of 2020, according to the Census’s Housing Vacancy Survey (HVS). Amid elevated mortgage interest rates and tight housing supply, housing affordability is at a multidecade low. Compared to the peak of 69.2% in 2004, the homeownership…
Despite Exemptions and Delays, Tariffs are Already Affecting Builders
Home builders have already started to feel the effects of U.S. tariff policy, according to recent NAHB member surveys. This is true even though the Administration did not announce its list of reciprocal tariffs until April 2nd, lumber along with USMCA-compliant imports from Canada and Mexico were exempt, and a week later the Administration enacted…
Almost Half of the Owner-Occupied Homes Built Before 1980
Around 48% of the U.S. housing stocks dates back to the 1980s and earlier. The median age of owner-occupied homes has climbed to 41 years in 2023, up from 31 years in 2005 according to the latest data from the American Community Survey[1]. The U.S. owner-occupied housing stock has aged rapidly particularly, particularly since the…
Affordability Pyramid Shows 94 Million Households Cannot Buy a $400,000 Home
NAHB recently released its 2025 Priced-Out Analysis, highlighting the housing affordability challenge. While previous posts discussed the impacts of rising home prices and interest rates on affordability, this post focuses on the related U.S. housing affordability pyramid. The pyramid reveals that 70% of households (94 million) cannot afford a $400,000 home, while the estimated median…
Lower Mortgage Rates, Better Affordability
As housing affordability remains a critical challenge across the country, mortgage rates continue to play a central role in shaping homebuying power. Mortgage rates stayed elevated throughout 2023 and early 2024. Recent data, however, shows a modest decline in mortgage rates. Even slight declines can have a significant impact on housing affordability, pricing more households…
Fed Remains in Wait and See Mode
In a widely anticipated move, the Federal Reserve remained on pause with respect to rate cuts at the conclusion of its March meeting, maintaining the federal funds rate in the 4.25% to 4.5% range. While the central bank acknowledged that the economy remains solid, it emphasized a data- and policy-dependent approach to future monetary policy…