Eye On Housing
According to NAHB’s latest estimates, rising softwood lumber prices over the last 12 months have added $35,872 to the price of an average new single-family home, and $12,966 to the market value of an average new multifamily home. That increase in multifamily value translates to households paying $119 a month more to rent a new apartment. These estimates are based on the softwood lumber used… Read More ›
Tag Archive for ‘rent’
For Multifamily, Virus Impacting Rent Collection, Plan Reviews
In an online poll conducted by NAHB in recent days, 90 percent of multifamily developers said the coronavirus has had an adverse effect on how long it takes to obtain a plan review for a typical multifamily building, and 88 percent said it has had an adverse effect on timely collection of rent payments. The poll collected 49 responses from… Read More ›
Real Rent Index Edges Up in September
In September, NAHB’s Real Rent Index increased 0.2 percent over August’s reading, after essentially no growth between June and August (Figure 1). Over the first nine months of 2019, the average monthly growth rate of the Real Rent Index was 0.13%, slightly higher than the average of 0.11% in 2018. NAHB constructs a “real” rent index to indicate whether inflation… Read More ›
A Deeper Look at Rent-Burdened Households
Households paying 30 percent of more in rent, a threshold long used by the federal government to identify “rent-burdened” households, has been a significant housing issue for some time. Nearly half of renter households (48 percent) in the U.S. were rent-burdened in 2015.[1] The large share of rent-burdened households is a symptom of the broader affordability problem in the housing… Read More ›
Rents Outpace Growth in Consumer Prices
The Bureau of Labor Statistics (BLS) reported that the prices on expenditures made by urban consumers increased over the last twelve months by 1.7% before seasonal adjustments. Consumer prices increased in September by 0.1% on a seasonally adjusted month-over-month basis. Modest and consistent gains in the consumer price index (CPI) mask greater volatility in energy, food, and shelter prices. The… Read More ›
Gasoline Pushes Consumer Prices Higher in June
According to the latest Bureau of Labor Statistics (BLS) press release, consumer prices increased in June 0.3% on a seasonally adjusted month-over-month basis. Over the past twelve months, prices on expenditures made by urban consumers increased 2.1% before seasonal adjustments. The month-over-month increase in the all items index was driven by a large 3.3% increase in the gasoline index. The… Read More ›
Consumer Prices Increase Broadly in May
Consumer prices in May experienced the largest monthly increase since February 2013. According to data released by the Bureau of Labor Statistics (BLS), consumer prices increased 0.4% on a seasonally adjusted month-over-month basis. Year-over-year, before seasonal adjustments, prices on expenditures made by urban consumers increased 2.1%. The increase was broad, affecting many items found in the consumer basket such as… Read More ›
Falling Gas Prices Push CPI Down
In October, consumer prices decreased 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 1.0% before seasonal adjustments. The month-over-month decrease in the all items index was the result of a 1.7% decrease in the energy price index…. Read More ›
Real Rents Up 1.2% Over Last Year
In September, consumer prices rose by 0.2% 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 1.2% before seasonal adjustments. Data collection for the estimates occurred prior to the government shutdown; however the release of data was delayed by… Read More ›
HUD’s Proposed Fair Market Rents Address a Number of Industry Issues
On August 3rd, the Department of Housing and Urban Development (HUD) released its list of proposed Fair Market Rents (FMRs) for fiscal year 2013. The primary purpose of FMRs is to establish maximum subsidies for HUD’s Housing Voucher Program (which provides rental assistance to about 1.8 million low-income, elderly and disabled households) although FMRs are sometimes used in other applications… Read More ›