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.

Top Five Cities For Lower-Income Renters To Pursue The Dream Of Homeownership

By Odeta Kushi on April 14, 2021

In the fourth quarter of 2020, the median renter experienced a 10 percent boost to their house-buying power relative to one year ago, but the share of homes they could afford to buy declined by 4 percentage points due to rising house prices, according to the First-Time Home Buyer Outlook Report. However, while we recently examined affordability...

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Topics: Homeownership First-Time Home Buyer Outlook Report Renter Affordability

Where Can Potential First-Time Home Buyers Find The Largest Supply Of Affordable Homes?

By Odeta Kushi on March 23, 2021

In 2020, a combination of record low mortgage rates and millennials aging into homeownership boosted demand against a very limited supply of homes for sale, resulting in rapid house price appreciation. The nearly two-thirds of American households who already own homes saw their equity increase, while potential first-time home buyers, who are...

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Topics: First-Time Home Buyer Outlook Report Renter Affordability

Don’t Overlook The Benefit Of Equity When Considering Whether To Rent Or Own

By Odeta Kushi on January 25, 2021

As nominal house prices have soared over the last year, many potential first-time home buyers may be reconsidering whether to buy or to continue renting. Weighing the monthly cost of renting versus owning a home is a key factor in determining if it makes financial sense to buy a home. This update to a 2019 analysis, which found that owning was ...

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Topics: Affordability Homeownership Renter Affordability

Where Rent-Burdened Households Declined The Most

By Odeta Kushi on March 11, 2020

Beginning in 2011 and continuing through 2018, the share of rent-burdened households declined nationally – a trend reversal from the decade between 2000 and 2010. According to the Department of Housing and Urban Development, rent-burdened households spend over 30 percent of their income on rent. However, as the old adage goes, it’s all about...

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Topics: Affordability Renter Affordability

Why The Share Of Rent-Burdened Households Has Declined In The Post-Recession Era

By Odeta Kushi on March 2, 2020

After nearly 20 years of rising rents, renter affordability, or the lack thereof, is a hot topic in housing. The long-running increase in rents has fueled a rise in the share of rent-burdened households, defined by the Department of Housing and Urban Development (HUD) as households that spend over 30 percent of their income on rent.

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Topics: Affordability Renter Affordability