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.
Vanquishing too big to fail
The Federal Reserve Bank of Dallas balanced myriad roles in 2012, stepping up outreach efforts, banking supervision responsibilities, research production and educational programs during a challenging period for the economy.
Energy Bust Bad News for Job and Wage Growth
Texas labor markets logged remarkable gains during the 2005?14 shale oil and gas boom but are beginning to buckle under an intensifying oil bust.
A Lender for Tough Times
Community banks are not only a major source of credit, but also a stable one for businesses. During the recent financial crisis and its aftermath, these smaller, traditional lenders provided credit to many firms, especially small businesses, when they needed it most.
From brawn to brains: how immigration works for America
Immigrants help fuel the U.S. economy, representing about one in every six workers. Because of accelerated immigration and slowing U.S. population growth, foreign-born workers accounted for almost half of labor force growth over the past 15 years. Public attention has forcused mainly on the large number of low-skilled immigrant workers, but the number of high-skilled immigrants actually grew faster during the period.
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.