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.

For Single Women, Housing Remains Largest Component of Wealth Creation

By Ksenia Potapov on March 10, 2023
As we celebrate International Women’s Day and Women’s History Month, it’s important to reflect on the progress that women, and single women in particular, have made in achieving one of the main tenets of the American Dream – homeownership. Since 2019, the number of single, female-headed households (including widowed, separated, or divorced) has ... Read More›

Housing Homeownership

Will Foreclosures Rise as the Housing and Labor Markets Cool?

By Ksenia Potapov on November 15, 2022
The pandemic brought about both policies to protect homeowners from losing their homes – foreclosure moratoriums and forbearance programs – and concerns that a wave of foreclosures would crash upon the housing market once the protections ended. The wave did not materialize, and foreclosures remain near historic lows. Now, the Federal Reserve is ... Read More›

Interest Rates Homeownership

Why Educated Millennials Still Hold the Key to Future Homeownership Demand

By Odeta Kushi on October 10, 2022
The fall usually marks the beginning of the school year, seasonally cooler weather and a seasonally cooler housing market. But, this year, the housing market’s typical autumn slowdown is more pronounced as rapidly rising interest rates discourage buyers and sellers from entering the market. The housing market is not immune to business cycles, and ... Read More›

Millennials Education Homeownership

Fewer Affordable Options for Potential First-Time Home Buyers as Mortgage Rates Rise

By Ksenia Potapov on October 5, 2022
As mortgage rates have steadily risen, affordability has decreased significantly for home buyers across income levels. However, affordability for the potential first-time home buyer – those currently renting – has faced the most pressure. Nationally, affordability for potential first-time home buyers declined 19 percentage points in June 2022 ... Read More›

Homeownership First-Time Home Buyer Outlook Report Renter Affordability

Where Potential First-Time Home Buyers Can Find Relief from the Affordability Shock

By Ksenia Potapov on August 10, 2022
Following two years of red-hot activity accelerated by pandemic-era dynamics, the housing market is cooling as demand falls in response to a significant decline in affordability. Double-digit house-price appreciation chipped away at affordability as the pandemic-driven supply and demand imbalance fueled competition for a limited inventory of homes ... Read More›

Homeownership First-Time Home Buyer Outlook Report Renter Affordability

Millennials Continued to Drive Homeownership Demand in 2021

By Odeta Kushi on July 6, 2022
In 2022, National Homeownership Month arrived in June as the housing market adjusts to higher mortgage rates amid still strong nominal house price appreciation, which have resulted in a significant decline in house-buying power. The housing boom of 2020 and 2021 was the exception, not the rule. Record-low mortgage rates, the ability to work from ... Read More›

Housing Millennials Homeownership Progress Index Homeownership

It Doesn’t Take Much House Price Appreciation to Make Owning a Better Choice than Renting

By Ksenia Potapov on April 15, 2022
In August 2021, our analysis found that owning a home was cheaper than renting in all 50 of the top U.S. markets, largely due to the ownership benefit of house price appreciation. Given house price appreciation nationally was historically strong in 2021, it’s unsurprising that owning a home made more financial sense than renting last year. Looking ... Read More›

First-Time Homebuyer Homeownership Renter Affordability

Single Women Skip the Spouse to Buy a House

By Odeta Kushi on March 8, 2022
As we celebrate International Women’s Day and Women’s History Month, growing numbers of women, specifically single women, have become homeowners, achieving one of the main tenets of the American Dream. In the aftermath of the Great Recession, the overall homeownership rate reached a low point of 63 percent in 2016, but has since rebounded to 65.5 ... Read More›

Housing Homeownership