State of the Nation’s Housing 2006
The Joint Center for Housing Studies is Harvard University’s center for information and
research on housing in the United States. The Joint Center analyzes the dynamic relationships between housing markets and economic, demographic, and social trends, providing leaders in government, business, and the non-profit sector with the knowledge needed to develop effective policies and strategies.
Each year the Joint Center releases a report on the Nation’s Housing Market and by following this link, you can see the 2006 report. Some excerpts from the report include:
“The housing boom came under increasing pressure in 2005. With interest rates rising, builders in many states responded to slower sales and larger inventories by scaling back on production. Meanwhile, the surge in energy costs hit household budgets just as higher interest rates started to crimp the spending of homeowners with adjustable mortgages.”
“Nevertheless, the housing sector continues to benefit from solid job and household growth, recovering rental markets, and strong home price appreciation. As long as these positive forces remain in place, the current slowdown should be moderate.”
“Over the longer term, household growth is expected to accelerate from about 12.6 million over the past ten years to 14.6 million over the next ten. When combined with projected income gains and a rising tide of wealth, strengthening demand should lift housing production and investment to new highs.”
“But with the economy generating so many low-wage jobs and land use restrictions driving up housing costs, today’s widespread affordability problems will also intensify.”
The 2006 Report can be found here
The 2005 Report can be found here
Established in 1959, the Joint Center is a collaborative unit affiliated with the Harvard Design School and the Kennedy School of Government. Through its rich array of research, education, and public outreach programs, the Joint Center serves as a convener for informed discussion on a broad range of issues in the housing sector of the nation’s economy. In doing so, it educates business leaders, government officials, policy makers, and the public on critical and emerging factors affecting housing and our communities.