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.

Pandemic Unlikely To Slow Looming Wave Of Millennial Marriages And Corresponding Increase In Potential Homeownership Demand In The Long Run

By Odeta Kushi on July 15, 2020

Millennials are already the most educated generational cohort in U.S. history, which bodes well for future homeownership demand. But they are also aging into key lifestyle decisions, like marriage and having children, associated with a greater likelihood of purchasing a home. According to our analysis of anonymized household data, millennials...

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Topics: Affordable housing Millennials Homeownership Progress Index Homeownership

Rising Millennial Educational Attainment Signals Homeownership Demand Primed For Growth

By Odeta Kushi on July 9, 2020

Examining critical lifestyle, societal and economic trends can provide a strong indication of the likelihood of owning a home and, in turn, potential homeownership demand. This is the fundamental concept behind our annual Homeownership Progress Index (HPRI). Understanding these forces and tracking how they change over time allows us to measure...

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Topics: Housing Millennials Education Homeownership Progress Index Homeownership

Millennial Homeownership Delayed, But Not Denied

By Mark Fleming on July 1, 2020

As we navigate the unprecedented impact of COVID-19, home has taken on added significance and there are signs that homeownership remains one of the main tenets of the American Dream. After hitting a bottom in the second week of April, mortgage applications to purchase a home increased for nine consecutive weeks, even exceeding levels from a...

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Topics: Housing Millennials Homeownership Progress Index Homeownership

What Is Preventing The Homeownership Rate From Reaching Its Potential?

By Mark Fleming on July 18, 2019

Ten years after the Great Recession, homeownership remains one of the main tenets of the American Dream. Amid the recovery from the housing crisis, the homeownership rate hit a generational low of 63 percent in 2016, but it has been steadily rising since. What’s behind the steady rise since the 2016 low point? The explanation lies in the shifts...

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Topics: Homeownership Progress Index

How Has The Housing Market Changed Since The End Of The Great Recession?

By Odeta Kushi on July 3, 2019

June marked the 10-year anniversary of the end of the Great Recession. Amid Independence Day celebrations, assessing how the American dream of homeownership has fared since the recession can provide helpful context for the health of today’s housing market. We have assembled a set of housing metrics and compared their values today with what...

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Topics: Homeownership Progress Index Real House Price Index Affordability Homeownership

What Is The Impact Of Student Loan Debt On House-Buying Power?

By Odeta Kushi on February 15, 2019

Contrary to many reports, student loan debt is not an insurmountable barrier to homeownership for millennials. Student loan debt is more likely to delay the timing of homeownership, but it does not necessarily prevent homeownership. But, this begs the questions, how does student loan debt impact house-buying power? And, is higher education a...

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Topics: Millennials Education Homeownership Progress Index Homeownership