Update 805 — Harris’ Economic AgendaFirst Priority: Lowering Americans’ Costs Greetings from the Democratic National Convention in Chicago, where Democrats are introducing the nation to the still-unfamiliar economic agenda of Presidential nominee Kamala Harris. That process formally began last week in Raleigh, NC, where the Vice President made clear that her first priority will be …
Update 802 — Housing and 2024 Election:Affordability as Campaign’s Sleeper Issue Last week’s U.S. jobs report set off market tremors as far away as Asia this week, amid speculation about recession in the U.S. and some calls for an emergency Fed meeting to cut interest rates, both of which dissipated as the week progressed. Yesterday’s …
Update 773 — Supplemental’s Status, Roundup of Week’s Other Developments It isn’t the express train but the long-lingering local that the $95 billion international assistance package, originally requested by the administration over six months ago, is riding en route to the finish line in Congress. Once enacted, the White House will sign and herald most …
Update 765 — FY24’s Bell Lap at LastDOJ vs Apple; Bank Merger Rules; NAR Congress is poised to pass the six remaining appropriations bills for FY24 almost halfway through the current fiscal year. Though disagreements between Speaker Johnson and the White House endangered the package in its final stages of negotiation, Democrats have emerged from …
Update 653 — Housing in the HouseStatus of Sector; Policy Possibilities? Yesterday, the House Financial Services Committee held its sixth hearing this Congress on proposals to address chronic and current issues in the housing sector. This focus makes sense: spending on housing and related services represented 17.5 percent of GDP in 2020. Real estate constitutes …
Update 630 — A Signal, Suddenly Sick SectorBut More Espousing than Acting on Housing Almost overnight, the housing market is seeing a rapid cool down with no trough in sight. The market for both sales and rentals is in a tailspin aggravated by the Fed’s tightening monetary policy. This volatility only emphasizes the instability within …
Update 618 — Housing en Fuego:Our Domestic Supply Chain Crisis The Fed’s attack on inflation — rapidly ramped-up rate hikes and mortgage-backed asset sales — is running headlong into and exacerbating the nation’s chronic housing shortage. Housing and construction are big economic sectors but are having an even greater impact on inflation than usual, contributing …
Update 565 — BBB Faces Housing Crisis:Residential Infrastructure and Recovery Democrats’ negotiations on Build Back Better are gathering momentum, as evidenced by the stream of detailed pare-backs and concessions reported this week. But progressives are mounting a defense of the bill’s housing provisions. Congress may cut housing outlays from the initially proposed $327 billion to as …
Update 543 — Survey of U.S. HousingImpact of Shortage, Price Spike, COVIDDespite the pandemic and economic crises, the U.S. housing market is seeing more sales than any year since 2006, with the high volume expected through 2021. Low-interest rates and cheap mortgage terms have fueled demand among Americans of means looking to move or buy. This demand …
Update 514 – Housing Shortage in the US:Problems, Solutions, and Odds of Reform The pandemic and its ensuing economic crisis have brought manifold housing challenges to the fore for both renters and owners. The rent remains too high and homeownership still beyond the means of too many people. The consensus view: the housing stock of …
