Homes More Affordable Today Than During Previous Housing Peak in Each of the Top 50 Markets
By
Mark Fleming on September 28, 2021
In July, housing affordability continued its decline as year-over-year nominal house price appreciation reached a record 20 percent, vastly outpacing the increase in house-buying power compared with a year ago. The Real House Price Index (RHPI) measures affordability in the context of changes in consumer house-buying power, incorporating changes ...
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The REconomy Podcast™: Why Labor Market Trends May Keep Mortgage Rates Near Record Lows Longer
By
FirstAm Editor on September 23, 2021
In this episode of the REconomy Podcast™ from First American, Chief Economist Mark Fleming and Deputy Chief Economist Odeta Kushi explain why important labor market trends may influence the Federal Reserve’s decision to reverse its easy-money policies.
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Today's House Prices Are Over 40 Percent More Affordable Than The Housing Boom Peak
By
Mark Fleming on August 30, 2021
The Real House Price Index (RHPI) measures affordability in the context of changes in consumer house-buying power, incorporating fluctuations in household income, mortgage rates and nominal house prices. In June, housing affordability declined on a year-over-year basis for the fourth month in a row, following two years of increasing affordability. ...
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Interviews with CNBC and Yahoo! Finance: Is the Housing Market Cooling?
By
FirstAm Editor on August 24, 2021
First American Deputy Chief Economist Odeta Kushi was interviewed on CNBC and Yahoo! Finance last week, discussing potential moderation of the housing market and affordability challenges with CNBC and providing perspective on July housing starts data and the implications for the housing market with Yahoo! Finance.
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Why Owning a Home was Cheaper than Renting in All 50 Top U.S. Markets
By
Odeta Kushi on August 16, 2021
When potential first-time home buyers consider making the transition to homeownership, they ask themselves whether it makes more financial sense to keep renting, or to buy. The pandemic has undoubtedly impacted that calculation. Annual house price appreciation skyrocketed during the pandemic, reaching an average of 17.5 percent annual growth in ...
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Affordability Declined for Third Month in a Row
By
Mark Fleming on July 27, 2021
Housing affordability declined on a year-over-year basis for the third month in a row in May, following a two-year streak of rising affordability. The decline in May occurred even as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of greater affordability relative to one year ...
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