Economic Center Blog
Welcome to the First American Economic Center Blog, a top source for the latest housing market research and analysis driven by Chief Economist Mark Fleming.

Recent Posts by Ksenia Potapov

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Why Buy a Home Now if it’s Likely to Cost More in the Future?

By Ksenia Potapov on September 7, 2023
The millennial generation, those born between 1981 and 1996, have recently dominated the demand side of the housing market. However, Generation Z, those born between 1997 and 2012, is on the cusp of aging into their prime home-buying years. While potential first-time home buyers, mostly millennials and older Gen Zers, jumped on the historically ... Read More›

Homeownership Renter Affordability

1990s Nostalgia Hits the Housing Market, With One Key Difference

By Ksenia Potapov on August 29, 2023
The many twists and turns of the housing market over the last few years have made it difficult to contextualize current housing market conditions, especially as recency bias anchors us to the housing market of 2020 and 2021, which was anything but normal. Mortgage rates hit historic lows during these years yet have since increased to the highest ... Read More›

Housing Housing supply

Millennials, Walking Around Like They Own the Place

By Ksenia Potapov on June 22, 2023
Amid the roller coaster housing market of the past few years, National Homeownership Month presents an opportunity to examine a fundamental driver of homeownership and housing demand—demographics. In fact, there’s one generation in particular that will remain a driving force of homeownership demand for years to come—the millennials. Read More›

Millennials Homeownership

Outlook for First-Time Home Buyer Affordability is Mixed, but Affordable Markets Remain

By Ksenia Potapov on May 30, 2023
National housing affordability has broadly declined compared with one year ago, especially for potential first-time home buyers. The median renter, who can also be considered the median first-time home buyer, could afford 34 percent of the homes for sale nationally in the first quarter of 2023, down from 45 percent a year earlier. The decline is ... Read More›

Homeownership First-Time Home Buyer Outlook Report Renter Affordability

For Single Women, Housing Remains Largest Component of Wealth Creation

By Ksenia Potapov on March 10, 2023
As we celebrate International Women’s Day and Women’s History Month, it’s important to reflect on the progress that women, and single women in particular, have made in achieving one of the main tenets of the American Dream – homeownership. Since 2019, the number of single, female-headed households (including widowed, separated, or divorced) has ... Read More›

Housing Homeownership

Why Mortgage Rates Hold the Key to Improved Affordability in 2023

By Ksenia Potapov on February 3, 2023
By all respects, 2022 was a tumultuous year for the housing market. Annual house price appreciation remained at a double-digit pace for most of the year, mortgage rates increased by nearly 4 percentage points in less than 12 months and, as a result, affordability plummeted. By October, housing affordability had declined by a record 68 percent ... Read More›

Interest Rates Real House Price Index Affordability