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 ... Read More ›

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. Read More ›

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 ... Read More ›

After hitting a low point in the spring, the housing market has rebounded strongly during the pandemic. Historically low mortgage rates have fueled demand and increased home buyers’ purchasing power amid an ongoing housing supply shortage. The widening imbalance between housing supply and demand has pushed house prices higher. Some now fear that ... Read More ›

Based on our analysis last month, a wave of foreclosures similar to levels seen during the Great Recession is unlikely to occur despite the continuing economic hardship caused by the COVID-19 pandemic. Homeowners are in a much better position to weather this crisis, in part because household equity is near a three-decade high, negating one of the ... Read More ›

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 ... Read More ›