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 Odeta Kushi

For Single Women, Homeownership Increasingly Comes First

By Odeta Kushi on June 11, 2020

As we enter National Homeownership Month, it’s important to reflect on the long-term trends in one of the main tenets of the American Dream. Following an overall decline in homeownership in the aftermath of the Great Recession to a low point of 63 percent in 2016, the homeownership rate has rebounded significantly to 65 percent in 2019....

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Topics: Housing Homeownership

House Price Appreciation Poised To Accelerate As Pandemic Intensifies Housing Supply Shortage

By Odeta Kushi on June 2, 2020

In April, pandemic-related pressure drove the supply of homes for sale to its lowest April supply level ever. Even in the years prior to the pandemic, the lack of housing supply for sale was a significant headwind to the housing market. A major reason for the lack of homes for sale is increasing tenure – the length of time a homeowner lives in...

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Topics: Housing tenure

What A Service Sector-Driven Recession Means For Homeownership Demand

By Odeta Kushi on May 14, 2020

The shutdown of large discretionary consumption segments of the U.S. economy, with the intent to slow and prevent the spread of COVID-19, has triggered one of the fastest contractions in U.S. economic activity ever observed. As a result, millions of Americans have filed for jobless benefits and the unemployment rate rose to 14.7 percent in...

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Topics: Housing Homeownership

Why The Labor Market May Recover Faster Than Previous Recessions

By Odeta Kushi on May 6, 2020

The coronavirus pandemic continues to significantly impact the domestic and global economy. Weekly unemployment claims in April have broken records and consumer confidence has declined with the worsening economic conditions. More than 18 percent of the labor force has claimed unemployment in the past six weeks. Less than two months ago, the...

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Topics: Income Jobs Report

Where Is It Cheaper To Own A Home Than To Rent?

By Odeta Kushi on April 10, 2020

As the coronavirus pandemic and its repercussions create challenges for all, it’s easy and important to focus on the day-to-day headlines and the information driving the news cycle at the moment. But, understanding long-term trends, even those that may be altered by the pandemic’s impacts, provides helpful insight into major decisions, like the...

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Topics: Affordability Homeownership

Are Negative Mortgage Rates On The Horizon?

By Odeta Kushi on March 18, 2020

Given both emergency rate cuts of the Federal Reserve and the recent economic uncertainty due to the spread of the Coronavirus, the 10-year Treasury yield dropped to its lowest level in 150 years, according to  Nobel Laureate Robert Shiller. For added perspective, that takes us back to the time of Ulysses S. Grant’s presidency. The 10-year...

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Topics: Interest Rates Federal Reserve