The Unassuming Economist

On prices, rent, and mortgage:    

• Relief for US homeowners as mortgage rates hit lowest since 2022. Decline in benchmark rate helps bolster Donald Trump’s claim housing affordability is improving under his administration – FT
• The Disappearing American Mortgage. Young and working-class people aren’t getting on the property ladder anymore. – The Atlantic
• Price Growth for Building Materials Slows to Start the Year – NAHB
• A dangerous playbook is being revived for the giant US housing agencies. Increased buying of mortgage securities by Freddie Mac and Fannie Mae marks a return to a risky business model – FT
• Did Mortgages with Locked-in Low Rates Lead to Rising House Prices? – Harvard Joint Center for Housing Studies
• Asking Rents Continue to Decline Year-over-year – Calculated Risk
• House Price Appreciation by State and Metro Area: Fourth Quarter 2025 – NAHB

On sales, permits, starts, and supply:    

• Private Residential Construction Spending Edges Higher in December – NAHB
• Final Look at Local Housing Markets in January. Altos: Active single-family inventory was down 1.4% week-over-week – Calculated Risk
• Multifamily Absorption Rate Remains Below 50% – NAHB
• US housing supply gap widens further in 2025, Realtor.com says – Reuters
• Who we count shapes how we measure housing supply and affordability – Brookings

On other developments:    

• Is the Housing Market Going to Crash? – Redfin
• Homeowners Stay Put 12 Years, Stifling the US Housing Market – Bloomberg
• Senate bill to help Americans afford housing nears the finish line. The long-awaited bipartisan legislation has White House backing and includes a measure to ban large investors from buying hundreds of homes. – Washington Post
• Mamdani Meets Again With Trump, Emerging With Two Unexpected Victories. Mayor Zohran Mamdani said he and President Trump discussed building housing in New York City, and he appeared to secure the release of a Columbia student detained by ICE on Thursday. – New York Times
• A new car, home feel out of reach for middle-class Americans, poll finds. Most renters — including those earning six figures — doubt they could afford a home in the foreseeable future. – Washington Post
• Q4 Update: Delinquencies, Foreclosures and REO – Calculated Risk
• Housing has a data problem – Brookings
• The ROAD to Letting Treasury Pick Winners and Losers in Investing – Cato
• The 5 Strongest States Leading the ‘Two-Speed’ Housing Market – Realtor.com 
• Affordability Posts Mild Gains in Second Half of 2025 but Crisis Continues – NAHB