Housing Research & Analysis - Blog Post

On April 23, NCSHA's 2012 Legislative Conference kicked off with addresses from Idaho Housing and Finance Association President and Executive Director and NCSHA President Gerald Hunter, NCSHA Executive Director Barbara Thompson, the Department of Treasury's Under Secretary for Domestic Finance Mary Miller, the Bipartisan Policy Center’s Housing Commission Co-Chair Former Senator Christopher Bond, and a panel of housing industry experts.

Earlier this month, the Obama Administration released its March Housing Scorecard. The report shows that although the housing market remains in a delicate state, declining foreclosure rates and an increase in existing home sales indicate signs of stability.

Earlier this month, the Obama Administration released the February Housing Scorecard. The report shows that although existing home sales have increased and the supply of homes on the market has decreased, the number of foreclosure starts and completions has continued to rise.

Although Moody's outlook for state HFAs remains negative, Moody's predicts that HFAs will remain ahead of the overall market in some key metrics, including foreclosure and delinquency rates. Moody's also predicts that the majority of HFA bond programs will be able to maintain profitability despite low interest rates, although new HFA financing strategies may carry additional risk.

Nearly one in four working households in the U.S. spends more than half of its total income on housing, according to the Center for Housing Policy’s (the Center) report released February 24, Housing Landscape 2012. The report also states that the housing cost burden for working households grew from 2008 to 2010, mainly due to decreasing incomes and rising rental costs. The report concludes that “despite falling home values, housing affordability worsened significantly for working owners and renters between 2008 and 2010.”

The report states that for every 100 very low-income (VLI) renter households, having income less than or equal to 50 percent of AMI, there are 87 affordable rental homes. There are only 58 homes that are both affordable and available for every 100 VLI renter households.

On February 6, the Obama Administration released its January Housing Scorecard. According to the report, the housing market shows some positive trends, but stalling home sales and prices underscore the slow recovery.

Last night, in his State of the Union address, President Obama called for a loan refinancing program he said would give “every responsible homeowner the chance to save about $3,000 a year on their mortgage” and urged Congress to enact tax reform to reduce corporate tax rates and increase individual tax rates for the wealthy. Obama also reaffirmed his Administration’s commitment to close oversight of financial institutions and consumer protection.