The total number of residential construction firms in the country (single-family builders, multifamily builders, and residential remodelers) dropped to around 689,000 in 2012, 12% lower than in 2007, according to the U.S. Census Bureau’s Survey of Business Owners (collected only in years ending in ‘2’ and ‘7’). While the industry as a whole contracted during…
Homeowners saw their tax bills trimmed by more than 0 billion in 2014 according to estimates by the Joint Committee on Taxation (JCT) and NAHB analysis. The mortgage interest deduction (MID) alone accounted for $72.4 billion in tax savings, while the real estate tax deduction (RETX) saved homeowners an additional $30.2 billion. Rounding out the…
As it does every year, the Congressional Budget Office (CBO) has released an update to its 10-year baseline budget projections published in January. Individuals as well as businesses of all sizes should take note; the picture that CBO paints of the future of federal government finances remains worrisome despite some improvements registered after the end…
A new NAHB Economics research article shows that the effective real estate tax rates vary substantially across and within counties, with the highest rate area displaying rates that are often multiple times higher than the lowest rate areas within the same county. An “effective property tax rate” is the amount of property tax paid divided by…
NAHB’s recently published Housing Preferences of the Boomer Generation shows that homebuyers in the Baby Boom Generation want a suburban neighborhood consisting of all single-family detached homes more often than any other community feature (of the 19 listed), and nearly 80 percent prefer a cul de sac over efficient traffic flow when given the choice. These results…
Much like it counts people every 10 years, the US government counts American businesses every 5 years. This is done through the Economic Census, which is conducted by the Census Bureau in years ending in 2 and 7. Results for the residential construction industry for 2012 were recently released, officially confirming what we already knew: …
A previous post discussed how the current shortage of subcontractors in residential construction is becoming more acute. This is significant, because subcontractors are very important to the construction of the typical home. Periodically, NAHB has found it worthwhile to remind the public just how important. NAHB addressed the topic most recently in the September 2015…
