CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, and the National Association of Home Builders (NAHB), the nation’s leading advocate for the home building industry, today announced the success of their recent roundtable, “Land, Labor, and Lumber: The Current State of Residential Construction.” This forum is part of the ongoing CoreLogic Connects roundtable series, which focuses on the relationship between current federal policy and the latest economic data, spotlighting the need for increased collaboration amongst our nation’s thought-leaders and decision makers, and working to foster these relationships by encouraging discussion and debate among colleagues across various sectors of the housing and mortgage industries.
The series continued earlier this month with a roundtable focused on supply-side issues affecting home builders and the industry at large. Attendees from numerous executive branch agencies, industry trade associations, academic think tanks and policy analysts convened to discuss the current impacts of legislation and rulemaking on housing supply within the housing and mortgage markets.
The agenda included an analysis of macroeconomic trends, with CoreLogic Chief Economist Frank Nothaft predicting economic growth should continue through 2019 and, if growth lasts seven more months, this period will set the record for the longest economic expansion in U.S. history. “Continued growth next year is expected to push the U.S. unemployment rate down to the lowest level in 50 years,” said Nothaft. “As a result, the Fed will likely continue to hike its federal funds target and mortgage rates are anticipated to rise and reach their highest level in a decade by the end of 2019.”
This was followed by a presentation from NAHB Chief Economist Robert Dietz, who focused on supply-side issues affecting home builders across the country. “Declining housing affordability was the key issue affecting housing in 2018,” said Dietz. “Higher housing costs are a result of years of expanding supply-side constraints, most notably an ongoing shortage of skilled labor and regulatory costs associated with land development and home construction. Sectors of the residential construction industry set for additional growth, such as townhouse construction, are those that are able to navigate these persistent cost limitations.”
The discussion that followed provided attendees with the opportunity to address several issues affecting the home building industry, including the ability of home builders to access developable land, the effects of local and state government regulations, and potential public policy solutions to some of our nation’s most pressing challenges. Throughout the morning, the thought leadership and insight of NAHB – coupled with the data and analytical capabilities of CoreLogic – were a driving force behind the conversation, encouraging attendees to think collaboratively and innovatively in addressing the complex issues facing the housing and mortgage industries.
If you would like to learn more about the National Association of Home Builders, contact Liz Thompson at email@example.com.
If you would like to receive an invitation to future “CoreLogic Connects” roundtables, or to request more information about the events, contact Russell McIntyre at firstname.lastname@example.org.
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 700 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
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