Why Renter House-Buying Power is the Key to Understanding Housing Affordability
By
Mark Fleming on August 6, 2018
With unadjusted house prices recently eclipsing their 2006 housing boom peak, housing affordability is a concern in the industry and for potential home buyers. Existing home owners, by definition, can afford one so, when we are speaking about housing affordability, it is really a conversation about first-time home buyers.
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Interview on CNBC: Explaining the Shortage of Supply in the Housing Market and Demographic Wave of Demand
By
FirstAm Editor on August 1, 2018
First American Chief Economist Mark Fleming was interviewed yesterday on CNBC and discussed housing supply and demand, affordability and challenges facing new home builders.
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Housing In The News Interest Rates Millennials Affordability
The Top Five Cities for Consumer House-Buying Power
By
Mark Fleming on July 30, 2018
The three key drivers of the Real House Price Index (RHPI) are household income levels, the 30-year, fixed mortgage rate, and the unadjusted house price index. Changes to household income levels and the 30-year, fixed mortgage rate are considered together as consumer house-buying power. When household income rises and/or the mortgage rate falls, ...
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House Prices Continue to Rise, but House-Buying Power Still Near Historic Highs
By
Mark Fleming on June 25, 2018
The Real House Price Index (RHPI) views house prices in relation to consumer house-buying power, incorporating household income, mortgage rates, and an unadjusted house price index. When incomes rise, consumer house-buying power increases. When mortgage rates or house prices rise, consumer house-buying power declines.
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Quoted on Forbes.com: Rising Rates Can Increase Housing Demand
By
FirstAm Editor on June 7, 2018
First American Chief Economist Mark Fleming was quoted Tuesday in a feature article on Forbes.com, explaining how rising rates can increase housing demand.
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Housing In The News Interest Rates Millennials Affordability
Unadjusted house prices are higher than ever, but what is the real story?
By
Mark Fleming on May 24, 2018
As the home-buying season continues, the inventory of homes for sale remains historically low, while demand is increasing. Not surprisingly, house prices continue to rise. In March, unadjusted house prices increased by 6.4 percent compared with a year ago and they are now 8.7 percent above the housing boom peak for unadjusted house prices reached ...
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