Housing Developments

There is a shortage of electrical transformers needed to bring energy to homes, delaying housing construction all over the country. NAHB is urging the administration to act now.

Let's talk about data! Housing starts are out for September, and they were down. We explore what that means. Also, we take a look at building material prices.

NAHB's measure of home builder confidence, the Housing Market Index (HMI), fell dramatically in October to a reading of 38, well below a healthy level. Rising interest rates, continuing supply chain issues, and stubbornly high home prices are eating into consumer demand and builder confidence in the market for new homes.

It's a busy week for housing economic data, as NAHB's Housing Market Index, housing starts, and existing home sales all drop this week for the last time before the elections.

Inflation is stubbornly resilient, even as the Fed tries its best to tip the country into recession. But the Biden Administration should focus on housing, as it is a main driver of inflation.

Ongoing drought conditions in parts of the U.S. could start affecting supply chains, as the waters of the mighty Mississippi River fall to near unnavigable levels.

The Labor Department has proposed a new rule that will change the way independent contractors are classified. This could have a huge impact on home builders, as they are often called "contractors." We'll see what's in the text.

The availability of water may be a factor in deciding where new homes are built, according to a new poll by Morning Consult commissioned by NAHB. Many homeowners think the location of new homes will be impacted by how much water is available.

State and local governments are beginning to take bold action on the housing crisis. The study referenced in the episode can be found athttps://csba.org/workforcehousing.

Housing affordability is now front and center in the minds of most policymakers, especially as rents rise. Solutions are popping up all over the country. Articles referenced in today's episode: https://www.texastribune.org/2022/10/06/texas-housing-crisis-shelters/ https://www.theatlantic.com/ideas/archive/2022/10/california-accessory-dwelling-units-legalization-yimby/671648/ https://www.wsj.com/articles/housing-conversions-will-be-a-fix-for-empty-officesbut-not-yet-11664883720 https://thehill.com/opinion/finance/3673397-a-three-point-proposal-for-bipartisan-action-on-affordable-housing/

The labor market is beginning to weaken as the economy slows due to monetary policy, but the construction labor market remains robust. Also, an interesting op-ed in the New York Times today explores what California is doing to address their housing crisis. Read it at https://www.nytimes.com/2022/10/04/opinion/california-housing-crisis.html.

Material prices are declining, but these price drops are happening for a reason - namely, lower spending on single-family construction.

Congress averted a government shutdown late last week with temporary funding, per usual, and damage assessment from Hurricane Ian reveals the importance, and limitations, of building codes.

Weekly wrap up the biggest news in housing, plus the Supreme Court is slated to hear a case involving Waters of the U.S., a big deal for developers.

The impact of Hurricane Ian is just beginning to become apparent as the sun rises. NAHB has disaster response resources to help local HBAs and builders rebuild devastated homes. And the first webinar on the Inflation Reduction Act was held yesterday.

While new home sales were up last month, contract cancellations also spiked. And if the economy does slip into recession, could that help the real estate industry going into 2023?

New single-family home sales surged in August. But there's a pretty big catch with those numbers.

Rents are starting to fall in many areas of the country, following home prices. And Congress focuses on avoiding a government shutdown this week.

A quick recap of a very busy week in housing news.

The day the Fed raised interest rates another 0.75, NAHB CEO Jerry Howard attended a high-level policy meeting at the White House.