In 2019, the growth in consumer house-buying power outpaced house price appreciation for the median renter trying to buy the median priced home. But, there are many renters with household incomes below the median income in their cities. We can measure affordability for all renter households based on their household income and the share of homes...

Housing affordability, or the lack thereof, continued to generate discussion and headlines in 2019. That’s unlikely to change in 2020, as strong demand, driven by low mortgage rates and wage growth, collides with limited housing supply. However, it’s easy to overlook that nearly two-thirds of Americans already own homes so, generally speaking,...

The dominant theme in the housing market nationally in 2019 has been the ongoing challenge of a dearth of housing supply amid rising demand. A natural solution to the challenge is to build more homes. Yet, nationally, supply headwinds still make it hard for builders to ramp up new construction, especially at the entry-level, where first-time...

Thus far in 2019, the story of the housing market has been a tale of strong housing demand and limited supply. On the demand side, steadily rising house-buying power has fueled greater demand. Falling mortgage rates and rising household income sparked a nearly 12.6 percent increase in house-buying power year to date through September. The...

Important, but easy to overlook shifts in investment trends may be contributing to our current era of low interest rates. An excess supply of global savings relative to the demand for that money for investments is driving down interest rates, which can be thought of as the price of money. The neutral rate of interest, which is monitored by the...

Whether it’s parents shuttling their children off to elementary school or students starting their final year of college, back-to-school season is here. We generally spend a minimum of 12 years as a student, more if you pursue a college degree. Along the way, we’re told that education is critical to your ability to earn a decent living.