Housing Block: About the Commission
Oct. 25, 2011
The Bipartisan Policy Center (BPC) Housing Commission aims to reform the nation’s housing policy by crafting a package of realistic and actionable policy recommendations that respond to both the near-term and long-term challenges facing the housing sector. Making a continual effort to include both Republican and Democratic perspectives in its outreach and research, the Housing Commission will draw upon a wide range of viewpoints, bringing together housing experts, business leaders, former elected officials, academics, and other key stakeholders. Following the release of the commission’s recommendations, BPC will engage policymakers to catalyze implementation and will continue to expand and refine analysis in targeted areas.
Housing America’s Future: New Directions for National Policy
Feb. 25, 2013
The recommendations of BPC's Housing Commission are the culmination of a 16-month process that engaged the housing community both inside and outside of the Beltway through a series of roundtable discussions and regional housing forums.
Housing Finance Reform: Is Inertia Gaining Momentum?
June 12, 2013
By Mel Martinez and George Mitchell
The legendary American inventor Thomas Edison once cautioned, “we shall have no better conditions in the future if we are satisfied with all those which we have at present.” Edison, of course, was warning that complacency, a satisfied acceptance of the status quo, could be the enemy of progress.
The joint Census Bureau-HUD residential construction report tabulates the number of new housing units on which construction has started by building size and purpose. The figure displayed (a seasonally adjusted annual rate) is the number of units started each month in buildings with 5+ units. Note that the figure displayed represents a portion of overall housing starts (highlighted on this dashboard as a separate indicator).
Housing starts (new residential construction projects begun in a specific period of time) is one of three metrics included in the monthly survey of homebuilders nationwide compiled by the U.S. Census Bureau jointly with the U.S. Department of Housing and Urban Development (HUD). The figure displayed is a seasonally adjusted annual rate. New data is released on the 12th workday of each month.
Wells Fargo and the National Association of Home Builders (NAHB) produce this monthly index gauging builder perceptions of current single-family home sales and sales expectations for the next six months. Scores from each component of the survey are used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor. The index is released monthly, the day before new residential construction data is posted by the U.S. Census Bureau and HUD.
Freddie Mac's Primary Mortgage Market Survey compiles weekly data from over 125 lenders nationwide based on their current quotes, indicating what a prospective borrower may pay for the loan product. The figure displayed is the average weekly rate (released every Thursday).
The Bureau of Labor Statistics (BLS) tracks the monthly percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Unemployment statistics are released on the first Friday of each month.
CoreLogic's monthly data on completed foreclosures and the overall foreclosure inventory.
The Conference Board's Consumer Confidence Index is formed from monthly survey results of more than 3,000 households and designed to gauge the relative financial health, spending power and confidence of the average consumer. The index is based on consumers’ perceptions of current business and employment conditions, as well as their expectations for the next six months. A value below 100 indicates that confidence has decreased relative to the baseline (1985 = 100). The index is released on the last Tuesday of each month.
The S&P/Case-Shiller Composite of 20 Home Price Index is a value-weighted average of the 20 metro area indices. A value above 100 indicates that prices have increased relative to the baseline (January 2000 = 100). The index, calculated using a three-month moving average and published with a two-month lag, is released on the last Tuesday of each month.
The Federal Housing Finance Agency's (FHFA) House Price Index is calculated monthly using purchase prices of houses with mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. A value above 100 indicates that house prices have increased relative to the baseline (January 1991 = 100). The index is published with a two-month lag.
Compiled monthly by the National Association of Realtors (NAR), existing home sales (or home resales) represent the number of previously constructed co-ops, condominiums, townhouses and single-family homes in which a sale closed during the month. The figure displayed is a seasonally adjusted annual rate.
The Census Bureau releases quarterly data on the national median list price for all rental units.
The Census Bureau releases quarterly data on vacancy rates from the Current Population Survey (CPS). The national vacancy rate is tabulated from a sample of 72,000 units. The figure displayed is the vacancy rate for rentals with 5+ units in the structure. Quarterly vacancy rates are also available for 1-unit and 2+ unit rentals.
The National Multi Housing Council’s (NMHC) quarterly survey of large apartment firms reflects perceptions of trends in the apartment sector. A reading above 50 indicates that, on balance, respondents believe market conditions are getting tighter (i.e., lower vacancies, higher rent increases); a reading below 50 indicates that conditions are getting looser; and a reading of 50 indicates that conditions are unchanged.
Father of securitization doubts easy return to private mortgage bonds
Article · HousingWire · June 17, 2013
America's Housing Story: One Size Does Not Fit All
Article · Huffington Post · June 17, 2013
Bipartisan Policy Center to Call for Housing Finance Reform at June 17 Event
Press release · June 12, 2013
Fannie Mae, Freddie Mac move up on Congress’s to-do list
Article · POLITICO · June 12, 2013
Pre-Purchase Counseling Benefits Banks and Homeowners
Article · American Banker · June 10, 2013
Nicolas Retsinas highlights Housing Commission's GSE reform proposal
Video · May 16, 2013
Ed Brady outlines bipartisan path to housing reform
Video · May 9, 2013
Renée Glover discusses the BPC Housing Commission report, future of homeownership
Video · April 25, 2013
Christopher S. "Kit" Bond
Former United States Senator
Henry Cisneros
Former Secretary, Department of Housing and Urban Development
Mel Martinez
Former United States Senator; Former Secretary, Department of Housing and Urban Development
George Mitchell
Former U.S. Senate Majority Leader; Co-founder, Bipartisan Policy Center
Throughout the week, the BPC Housing Commission highlights news items that address critical developments in housing policy.
Foreclosure activity reaches 6-year low
USA TODAY
Fannie, Freddie profits could sap will in Congress to reform mortgage giants
The Hill
More Americans spending majority of income on rent, except in Washington
The Washington Post
Mapping the Census Housing Market Indicators Housing Starts, New Home Sales and Residential Investment since 1968 Measuring State-Level Economic Mobility Past Commissions and Reports Trulia’s Housing Barometer U.S. Credit Conditions U.S. Housing Summary 2012 Urban Institute's Metro Area Data Dashboard
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