The October jobs report exceeded consensus expectations for job growth, yet the labor market’s rebound continues to slow. Higher frequency data from weekly jobless claims confirm the slowdown, as the level of new jobless filings is not falling as quickly in recent months. COVID-19 cases are on the rise and there is increasing likelihood of a ...
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First American Deputy Chief Economist Odeta Kushi was interviewed on Yahoo! Finance earlier this month, discussing why the housing market is better positioned in this recession than it was heading into the Great Recession, and how low rates and millennials are driving demand.
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Economists study homeownership and policymakers often emphasize it because homeownership is an effective way to build wealth, especially for low-income households. In fact, quantifying the wealth-building power of homeownership shows that home is not only where your heart is, but also where your wealth is.
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Throughout 2020, falling mortgage rates have been the strongest influence on housing affordability trends, even helping fuel the housing market’s impressive recovery and resilience to the continuing economic fallout from the coronavirus pandemic. Mortgage rates began declining in January 2020 and even dropped below 3 percent for the first time ...
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The housing market’s impressive “V-shaped” recovery has thus far shown significant resilience to the economic impacts of the coronavirus pandemic. Demographically driven millennial demand has continued unabated, low rates have fueled house-buying power, and historically low inventory has increased competition, leading to rising prices.
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Several reports indicate that the pandemic has triggered a mass flight from urban centers to the suburbs. It’s true that a move to the suburbs usually offers more space for telework and stay-at-home activities. But, as millennials have been aging into the key lifestyle decisions associated with a greater likelihood of purchasing a home (marriage ...
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