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Online Retailing, Self-Employment Disrupt Inflation
The employment status of increasing numbers of workers has become contingent in recent years—that is, there is greater freelance, or “gig,” employment. This development has coincided over the past two decades with an era of increasing online commerce that provides consumers a wider array of products and services at competitive prices.
Why House Prices Surged as the COVID-19 Pandemic Took Hold
In the wake of the short but steep COVID-19 recession, house prices have risen at record levels in recent months, hitting the peak increase of 19.3 percent in July 2021.
Report
What's Next? Factors Determining the Housing Recovery's Pace
The current balance between the number of owner-occupied homes and rental units demanded, along with existing housing supply, favors a continued recovery in house prices and construction even after temporary delays attributable to severe winter weather in 2013?14. Still, the future pace of the housing recovery will reflect important supply and demand influences?the impact of new homes on supply, market developments affecting housing prices and the alternative costs of renting.
Report
Regionally, Housing Rebound Depends on Jobs, Local Supply Tightness
After swinging from exuberant boom to epic bust over a decade, many local U.S. housing markets began a long-awaited housing recovery in 2012. The pace of house price change varied across metropolitan areas, mainly reflecting how local builders reacted to increased demand.
Report
Nationally, Housing Recovery Finally Gains Traction
U.S. housing markets experienced a notable boom and a painful bust during the past decade. Most recently, housing began its long-awaited recovery?the subject of the Dallas Fed?s 2013 Annual Report. In three essays, widely recognized housing expert and associate director of research John Duca shares insights on the national and regional markets and the outlook for housing.
Report
Will Oil Decline Lead to a House Price Bust?
The correlation between house prices and oil booms raises concerns because oil prices have fallen nearly as much from their 2014 peak (about 66 percent) as they did during the mid-1980s oil collapse (70 percent). That 1980s collapse preceded a long housing bust.
Journal Article
When will the U.S. housing market stabilize?
The hope that housing markets had stabilized in mid-2010 was dashed by subsequent declines in home construction and prices (Charts 1 and 2). Homebuilding peaked about five years ago, and housing prices almost four years ago. Amid such a prolonged downturn, a key question becomes, When will the housing market stabilize and support the economic recovery? We suggest that new home construction may stabilize and start recovering slowly within the next year or so. Our econometric results also indicate that national house prices may hit bottom late this year or in early 2012 and then recover slowly.
Journal Article
Increased credit availability, rising asset prices help boost consumer spending
A combination of much less household debt, revived access to consumer credit and recovering asset prices have holstered U.S. consumer spending. This trend will likely continue despite an estimated 50 percent reduction since the mid-2000s of the housing wealth effect?an important amplifier during the boom years.
Journal Article
Making sense of the U.S. housing slowdown
Journal Article
The rise and fall of subprime mortgages
After booming the first half of this decade, U.S. housing activity has retrenched sharply. Single-family building permits have plunged 52 percent and existing-home sales have declined 30 percent since their September 2005 peaks. ; A rise in mortgage interest rates that began in the summer of 2005 contributed to the housing market's initial weakness. By late 2006, though, some signs pointed to renewed stability. They proved short-lived as loan-quality problems sparked a tightening of credit standards on mortgages, particularly for newer and riskier products. As lenders cut back, housing ...