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Economic Center Blog

Five Best Cities For Economic Opportunity

By Mark Fleming on November 16, 2017

Amazon’s very public search to identify the best location for its second headquarters made me wonder - what criteria would be helpful for young professionals when making their personal decision on where to live and work? Affordable housing would be important. For example, you can buy so much more home in Texas or Ohio than you can in California. But, when making the decision about where to live, considering what and how many job opportunities exist is also a critical point. The most attractive places to live for young professionals would be where housing costs are reasonable and great job opportunities are abundant. In other words, the top cities for economic opportunity.

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Topics: Real House Price Index, affordability, insider

Many Experts Miss The Point On Mortgage Rates And Affordability For First-Time Home Buyers

By Mark Fleming on November 6, 2017

Last week, the Federal Open Market Committee (FOMC) met for the second to last time this year. As most prognosticators expected, the FOMC decided to leave the short-term Federal Funds rate unchanged. While good news for those with credit card debt, car loans and adjustable rate mortgages, the impact of FOMC inaction, or action for that matter, is less clear for the mortgage market. Additionally, Jerome Powell was nominated to be the next Chairman of the Federal Reserve and he is widely believed to hold a similar stance on monetary policy as the current chair, Janet Yellen.

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Topics: Interest Rates, Federal Reserve, affordability, insider, mortgage rates

Will August Uptick In Affordability Continue?

By FirstAm Editor on October 30, 2017

First American’s proprietary Real House Price Index (RHPI) looks at August 2017 data and includes analysis from First American Chief Economist Mark Fleming on what’s behind the surprising increase in affordability in August and whether or not that trend will continue.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability

Supply Squeeze Tightens Grip On Affordability In July

By FirstAm Editor on September 26, 2017

First American’s proprietary Real House Price Index (RHPI) looks at July 2017 data and includes analysis from First American Chief Economist Mark Fleming on the supply constraints impacting the housing market.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability

The Fundamental Underlying Issue In The Housing Market

By FirstAm Editor on August 28, 2017

First American’s proprietary Real House Price Index (RHPI) looks at June 2017 data and includes analysis from First American Chief Economist Mark Fleming on the prevailing issue facing today’s housing market.

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Topics: Interest Rates, Homeownership, Real House Price Index, income, affordability

Housing Market Faces Dilemma As Millennial Demand Continues To Grow

By Mark Fleming on June 20, 2017

First American’s proprietary Potential Home Sales model examines May 2017 data and includes analysis from First American Chief Economist Mark Fleming on how the real estate market is performing versus its potential.

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Topics: millennials, Existing Home Sales, Potential Home Sales, affordability

Housing Affordability Ticks Up, But What Does That Mean For Spring Home Buying?

By FirstAm Editor on March 27, 2017

First American’s proprietary Real House Price Index (RHPI) looks at January 2017 data and includes analysis from First American Chief Economist Mark Fleming on the decline in affordability as consumer house-buying power dipped due to rising rates.

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Topics: Interest Rates, Real House Price Index, income, affordability

Top 5 Most And Least Affordable Housing Markets Amid Higher Rates

By Mark Fleming on March 13, 2017

Recent economic data and comments by members of the Federal Open Market Committee (FOMC) all suggest that the chance of a rate increase this week after the FOMC meets is substantially higher than it was just a few weeks ago. Now that we are most likely in a rising rate environment, what does it mean for housing affordability?

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Topics: Homeownership, Real House Price Index, affordability, insider

What’s Behind The December Dip In Housing Affordability?

By FirstAm Editor on February 27, 2017

First American’s proprietary Real House Price Index (RHPI) looks at December 2016 data and includes analysis from First American Chief Economist Mark Fleming on the decline in affordability as consumer house-buying power dipped due to rising rates.

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Topics: Interest Rates, Real House Price Index, income, affordability

Just In Time For The Big Game: The Housing Benefit Of Football Fandom

By Mark Fleming on January 31, 2017

We all love our football, no more so than this weekend. But, it’s not just about cheering on your favorite team, guiltlessly eating wings, nachos or your favorite in-game football snack food, and gathering around that ever increasingly massive television (after all, it’s the second best time of the year to buy a television according to Consumer Reports).  Research shows that NFL team success can have a benefit for your wallet.

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Topics: affordability, insider