Eye On Housing
Consumer confidence continued to rise in September, after a big increase in August. Currently, consumers are quite optimistic about both the current situation and the near-term outlook. The Consumer Confidence Index, reported by the Conference Board, increased to 138.4 in September, from 134.7 in August. It has surpassed the 2007 peak of 111.9 and spiked to the highest level since… Read More ›
The Conference Board’s Consumer Confidence Index decreased in June, following an increase in May. The June decline in the Consumer Confidence Index was driven mainly by a sharp decline in the Expectations Index. While the Present Situation Index declined modestly, by 0.1% from an index reading of 161.2 in May to 161.1 in June, the Expectations Index dropped by 3.7%… Read More ›
The Conference Board’s Consumer Confidence Index declined in March, after increasing in February. The March decline in the Consumer Confidence Index reflects the declines in both the Present Situation Index and the Expectations Index. The Present Situation Index decreased by 0.8% from 161.2 to 159.9, while the Expectations Index declined by 2.7% from 109.2 to 106.2 in March. As a… Read More ›
Households age 55 or older earn about half of all household income in the U.S., but hold over two-thirds of the residential equity and other household wealth, according to the most recent (2016) Survey of Consumer Finances (SCF). The SCF is conducted every three years by the Federal Reserve and serves as one of the few federal sources of information… Read More ›
NAHB analysis of the Census Bureau’s quarterly tax data shows that $524 billion in taxes were paid by property owners over the four quarters ending in Q1 2016. This represents a $22 billion—or 4.4%—increase over the previous trailing four quarters, the largest percentage increase since 2009. Property taxes accounted for 39.3% of state and local tax receipts, the largest share… Read More ›
Income growth is a key factor that promotes household formation, generating rental and home buying demand. A significant amount of pent-up housing demand exists, but for it to be unlocked additional gains in wages and other income sources must be realized. Household income typically follows a life-cycle pattern of growing with age, as skills and seniority grow, followed by later declines… Read More ›
In a recent study, NAHB examines eight key housing statistics from the 2012 American Community Survey (ACS). This post takes a closer look at two of those statistics; the median household income and median value of owner-occupied housing units. The key to housing affordability is that the market meets the needs of the people who provide services we depend on… Read More ›
One factor holding back a more robust recovery in housing is the decline in incomes for key prospective renting and home buying age groups. While job creation has been positive, if lackluster, sluggish growth or declines in incomes for those seeking to rent their first apartment or purchase their first home holds back housing demand. A significant amount of… Read More ›
With the end of 2011 approaching, the contributors who work on NAHB’s Eye on Housing thought it would be useful to take a look at the updates that attracted the most readers over the last year. In October, we used Census data to examine the geography of “rent-burdened” households. The analysis indicated that 25% of renters were paying more than 50% of their income in… Read More ›