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 …
Update 502 – 2020 GDP Drop of 3.5%Really Hits Home… Owners & Renters The economy shrank by 3.5 percent in 2020, the largest contraction since 1946 and the first annual decline since 2009. Consumer spending specifically took a major hit, decreasing from Q3 to Q4 — an alarming anomaly and a reminder that disposable income, …
Update 498 – Amid Heated Debate on TrumpEconomy, Jobs, Wages Stuck in Deep Freeze After the fatal occupation of the Capitol last week, the nation’s attention is squarely focused on the state of our democracy and approaching transfer of power. For the first time in our history, the House is poised to impeach the President …
Update 475 — Starts and Stops:Survey of the Housing Sector Among the economic issues exacerbated by the coronavirus and the recession, housing is among the main culprits. Below, we analyze the situation facing renters, homeowners, and homebuyers and offer solutions for the housing crisis. We pause to reflect on the life of Justice Ruth Bader …
Update 399 — A Tale of Two Houses:Impact of Inequality on Housing Politics Although not generally considered a major policy remit of the federal government — housing accounts for under one percent of federal spending — housing and related markets represent 15 percent of GDP. Problems in the streets and on the Street have prompted responses on the …
