Do you remember the housing frenzy in 2021 and 2022 when people were making cash offers for homes without inspections or contingencies, and in some cases, sight unseen? Since the onset of Covid-19, home prices have risen 58% with the median existing home...
The American economy has historically been unusually dynamic, in part due to the flexibility afforded both workers and employers. Workers have been willing to change jobs and move in search of better opportunities. As compared to much of the world, companies enjoy greater...
Many of my posts have chronicled the soaring cost of housing and resulting difficulty that many people face in acquiring a home. The problem is particularly acute for first time buyers, 49% of whom report requiring family assistance to make the necessary down...
Most Americans have more than a casual interest in the price of their home given that home equity represents 45% of the median homeowner’s net worth. Thanks to Nobel Prize winner Robert Shiller, we have home price data from 1890 onward although I...
My 2024 white paper on internal migration in the U.S. detailed the ongoing shift in population from California, the Upper Midwest, and the Northeast to the Southeast, Florida, Texas, and several other Southwestern states. I ended with the caution that Americans were moving...
My May 26th blog Cracks in the Housing Market? raised the question of whether rising home prices and mortgage interest rates were finally beginning to impact the demand for housing. Well, new data suggests that higher housing costs are indeed having an impact....
