Tag Archives: Housing Affordability

How would the U.S. Department of the Treasury tweak the housing finance system to better serve consumers and promote homeownership?

Subcommittee Chairman Blaine Luetkemeyer (R-Missouri) has been an outspoken critic of government regulation when it comes to the housing and the financial industry.

The price to pay for housing market growth in 2016 will be shrinking affordability, according to Fannie Mae.

The aggregate rent paid by Americans in 2015 climbed even higher than the previous year—which is hurting affordability for those who want to buy.

Exactly what changes can sellers and servicers of mortgages owned or guaranteed by Freddie Mac expect in the coming year regarding the way that they do business?

Castro says America is in a better place than it was a few years ago as far as housing, but is still struggling in some areas: namely, affordability and not being prepared to accommodate the baby boomer population.

“These are big numbers that demand our attention,” said Nuno Mota, an economist at Fannie Mae. “However, considering that there are a number of affordability metrics currently used throughout the industry, are these numbers providing the most accurate view of the overall affordability picture, or are we only getting a partial view?”

The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income, according to NAHB

“For the remainder of this year, we're likely to continue to see these mortgage rate swings as market participants try to anticipate Fed timing around rising short term interest rates,” said Len Kiefer, deputy chief economist at Freddie Mac. “Unfortunately, perspective homebuyers may experience bouts of affordability shock in many housing markets."

Vice President Joe Biden, HUD Secretary Julián Castro, and the Obama Administration say they are are committed to leveling the playing field for all Americans and increasing access to safe and affordable housing.