{"id":61204,"date":"2018-01-31T12:25:03","date_gmt":"2018-01-31T20:25:03","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=61204"},"modified":"2021-01-20T11:16:54","modified_gmt":"2021-01-20T19:16:54","slug":"three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/","title":{"rendered":"The State of the Union: What Role Does Housing Play?"},"content":{"rendered":"

The U.S. enjoyed the strongest housing market in a decade last year. But in a speech full of economic accolades, President Trump missed an opportunity for a pat on the back. Housing was not mentioned once in his first State of the Union address.<\/span>
\n<\/span><\/b>
\nHere are three ways housing helped the economy last year:<\/b>
\n<\/span>
\n<\/span>1. <\/span>Unprecedented wealth for homeowners<\/span><\/i>
\n<\/span><\/i>Homeowners enjoyed record-high home equity in 2017 thanks to strong home price growth and low interest rates. U.S. homeowners were able to withdraw nearly <\/span>$54 billion dollars<\/span><\/a> in the form of cash-out mortgages, second liens and home equity lines of credit. Home equity helped support consumer spending, a key driver of economic growth last year.<\/span>
\n<\/span>
\n<\/span>2. <\/span>A rising homeownership rate<\/span><\/i>
\n<\/span><\/i>More homeowners are now benefiting from this price appreciation as ownership has finally started to show perceptible increases from historical lows. In the last three months of 2017 the homeownership rate rose to 64.2 percent from 63.7 percent \u00a0in the same period a year earlier. Even more good news, the elusive millennial first-time buyer showed up late last year. The homeownership rate for <\/span>millennial households rose<\/span><\/a> to 36 percent at the end of 2017 from 34.7 percent a year earlier. \u00a0<\/span>
\n<\/span>
\n<\/span>3. <\/span>Contribution to the bottom line<\/span><\/i>
\n<\/span><\/i>Housing\u2018s path has been rocky over the past decade. However, in recent years real estate has been a stable contributor to the U.S. economy. New construction accounts for about 3 percent of our economy. Housing services from existing homes add another 12 percent. Housing finished the year on strong footing in 2017. Residential investment <\/span>grew by 11 percent<\/span><\/a> in the fourth quarter compared to a year earlier, a sign of a healthy housing market that adds to economic growth. <\/span>
\n<\/span>
\n<\/span>In last night\u2019s address President Trump also outlined his administration\u2019s major policy initiatives. \u00a0<\/span>
\nHere are three ways we think White House policy will affect the housing market this year:<\/b>
\n<\/span>
\n<\/span>The Good: Infrastructure Spending<\/span><\/i>
\n<\/span><\/i>Despite strong homebuyer demand, new construction continues to lag the 50-year post with an average of 1.5 million new homes started this year. Lack of supply and high demand means many buyers are battling rapidly growing prices. Median sale prices were up 6.8 percent in 2017 from a year earlier. In fast-growing metros like Seattle, San Jose, Denver and Orlando, <\/span>home prices surged by double digits. \u00a0<\/span>
\n<\/span>
\n<\/span><\/a>Buyers are having to move farther from job centers to afford a home. Public investment, particularly in transit, is key to connecting farflung but affordable suburbs to urban job centers. \u00a0\u00a0<\/span>
\n<\/span>
\n<\/span>The Bad: Restrictions on Immigration<\/span><\/i>
\n<\/span><\/i>President Trump discussed three policy changes to immigration: a path to citizenship for undocumented immigrants under the DACA program, an end to the visa lottery, and exchanging a preference for extended family with a merit-based system. Though we applaud amnesty for Dreamers, overall we view the Trump Administration\u2019s proposed policy as more restrictive than current practice and potentially detrimental to the health of the housing market. <\/span>
\n<\/span>
\n<\/span>Restrictive immigration policies would cut short housing\u2019s recovery because immigration fuels home demand. Immigrants compose <\/span>over a third<\/span><\/a> of household growth and have been a key source of population increases in rural areas where domestic population has declined. <\/span>In a 2017 study of 353 cities<\/span><\/a> we showed a high immigrant population is <\/span>highly correlated<\/span><\/a> with housing wealth.<\/span>
\n<\/span>
\n<\/span>The Unknown: Tax Reform<\/span><\/i>
\n<\/span><\/i>A key pillar of President Trump\u2019s economic plan is tax cuts. Right now we view the effect of tax changes on housing as mixed. On the one hand, middle-class families should see some money from the cut this year. At the same time homebuyers in high-tax states will no longer be able to fully deduct state and local taxes.This could lead prices to stagnate or even decline in high-tax states like New York, New Jersey, Illinois and California. It\u2019s too soon to tell what the effect of the Republican tax plan will be on the 2018 market.<\/span>
\nPresident Trump stated in his State of the Union \u201cThere has never been a better time to start living the American dream.\u201d Housing is a crucial part of the American dream that can\u2019t be ignored.<\/span>
\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. enjoyed the strongest housing market in a decade last year. But in a speech full of economic accolades, President Trump missed an opportunity for a pat on the back. Housing was not mentioned once in his first State of the Union address. Here are three ways housing helped the economy last year: 1. […]<\/p>\n","protected":false},"author":13421,"featured_media":71950,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[43],"tags":[32,21],"dashboard":[],"coauthors":[69],"class_list":["post-61204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-equality-policy","tag-housing-market-tracker","tag-migration"],"acf":[],"yoast_head":"\nThe State of the Union: What Role Does Housing Play? - Redfin Real Estate News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The State of the Union: What Role Does Housing Play?\" \/>\n<meta property=\"og:description\" content=\"The U.S. enjoyed the strongest housing market in a decade last year. But in a speech full of economic accolades, President Trump missed an opportunity for a pat on the back. Housing was not mentioned once in his first State of the Union address. Here are three ways housing helped the economy last year: 1. […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"Redfin Real Estate News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/redfin\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-31T20:25:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-20T19:16:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/11\/23W410-Woodcrest-Ct_1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2159\" \/>\n\t<meta property=\"og:image:height\" content=\"1439\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nela Richardson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@redfin\" \/>\n<meta name=\"twitter:site\" content=\"@redfin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nela Richardson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/\"},\"author\":{\"name\":\"Nela Richardson\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/bdc24eea913c8cb2aa374507a15cbeaf\"},\"headline\":\"The State of the Union: What Role Does Housing Play?\",\"datePublished\":\"2018-01-31T20:25:03+00:00\",\"dateModified\":\"2021-01-20T19:16:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/\"},\"wordCount\":678,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/23W410-Woodcrest-Ct_1.jpg\",\"keywords\":[\"Housing Market Tracker\",\"Migration\"],\"articleSection\":[\"Housing Equality & Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#respond\"]}],\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/\",\"name\":\"The State of the Union: What Role Does Housing Play? - Redfin Real Estate News\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/23W410-Woodcrest-Ct_1.jpg\",\"datePublished\":\"2018-01-31T20:25:03+00:00\",\"dateModified\":\"2021-01-20T19:16:54+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/23W410-Woodcrest-Ct_1.jpg\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com/news\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/23W410-Woodcrest-Ct_1.jpg\",\"width\":1800,\"height\":1200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.redfin.com/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The State of the Union: What Role Does Housing Play?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#website\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"name\":\"Redfin Real Estate News\",\"description\":\"The latest real estate news and research from technology-powered residential real estate company, Redfin.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.redfin.com/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#organization\",\"name\":\"Redfin\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"contentUrl\":\"https:\\\/\\\/www.redfin.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Redfin-News-Logo.png\",\"width\":1100,\"height\":235,\"caption\":\"Redfin\"},\"image\":{\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/redfin\",\"https:\\\/\\\/x.com\\\/redfin\",\"https:\\\/\\\/www.instagram.com\\\/redfinrealestate\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/redfin\",\"https:\\\/\\\/www.pinterest.com\\\/redfin\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/Redfin\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.redfin.com/news\\\/#\\\/schema\\\/person\\\/bdc24eea913c8cb2aa374507a15cbeaf\",\"name\":\"Nela Richardson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/85fa132e1cbb75f73a6ff2e4a15eb4df33ac90a4ab070611389fc6bf4d468ea9?s=96&d=wp_user_avatar&r=g5f13dd2607eeea8d60a440b621ce21b1\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/85fa132e1cbb75f73a6ff2e4a15eb4df33ac90a4ab070611389fc6bf4d468ea9?s=96&d=wp_user_avatar&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/85fa132e1cbb75f73a6ff2e4a15eb4df33ac90a4ab070611389fc6bf4d468ea9?s=96&d=wp_user_avatar&r=g\",\"caption\":\"Nela Richardson\"},\"description\":\"Nela leads Redfin\u2019s housing market research team on data reports that help Redfin customers make informed choices. She comes to Redfin from Bloomberg LP, where she served as a senior economist with Bloomberg Government. She also served in past roles in the mortgage industry, capital markets and financial policy. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our \\\"Why Redfin?,\\\" page.\",\"url\":\"https:\\\/\\\/www.redfin.com/news\\\/author\\\/nela-richardsonredfin-com\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The State of the Union: What Role Does Housing Play? - Redfin Real Estate News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/","og_locale":"en_US","og_type":"article","og_title":"The State of the Union: What Role Does Housing Play?","og_description":"The U.S. enjoyed the strongest housing market in a decade last year. But in a speech full of economic accolades, President Trump missed an opportunity for a pat on the back. Housing was not mentioned once in his first State of the Union address. Here are three ways housing helped the economy last year: 1. […]","og_url":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/","og_site_name":"Redfin Real Estate News","article_publisher":"https:\/\/www.facebook.com\/redfin","article_published_time":"2018-01-31T20:25:03+00:00","article_modified_time":"2021-01-20T19:16:54+00:00","og_image":[{"width":2159,"height":1439,"url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/11\/23W410-Woodcrest-Ct_1.jpg","type":"image\/jpeg"}],"author":"Nela Richardson","twitter_card":"summary_large_image","twitter_creator":"@redfin","twitter_site":"@redfin","twitter_misc":{"Written by":"Nela Richardson","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#article","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/"},"author":{"name":"Nela Richardson","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/bdc24eea913c8cb2aa374507a15cbeaf"},"headline":"The State of the Union: What Role Does Housing Play?","datePublished":"2018-01-31T20:25:03+00:00","dateModified":"2021-01-20T19:16:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/"},"wordCount":678,"commentCount":0,"publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"image":{"@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/11\/23W410-Woodcrest-Ct_1.jpg","keywords":["Housing Market Tracker","Migration"],"articleSection":["Housing Equality & Policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#respond"]}],"copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/www.redfin.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/","url":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/","name":"The State of the Union: What Role Does Housing Play? - Redfin Real Estate News","isPartOf":{"@id":"https:\/\/www.redfin.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#primaryimage"},"image":{"@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#primaryimage"},"thumbnailUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/11\/23W410-Woodcrest-Ct_1.jpg","datePublished":"2018-01-31T20:25:03+00:00","dateModified":"2021-01-20T19:16:54+00:00","breadcrumb":{"@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#primaryimage","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/11\/23W410-Woodcrest-Ct_1.jpg","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/11\/23W410-Woodcrest-Ct_1.jpg","width":1800,"height":1200},{"@type":"BreadcrumbList","@id":"https:\/\/www.redfin.com\/news\/three-ways-housing-helped-the-economy-in-2017-and-three-ways-white-house-policy-will-affect-the-housing-market-in-2018\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.redfin.com\/news\/"},{"@type":"ListItem","position":2,"name":"The State of the Union: What Role Does Housing Play?"}]},{"@type":"WebSite","@id":"https:\/\/www.redfin.com\/news\/#website","url":"https:\/\/www.redfin.com\/news\/","name":"Redfin Real Estate News","description":"The latest real estate news and research from technology-powered residential real estate company, Redfin.","publisher":{"@id":"https:\/\/www.redfin.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.redfin.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.redfin.com\/news\/#organization","name":"Redfin","url":"https:\/\/www.redfin.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","contentUrl":"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2020\/10\/Redfin-News-Logo.png","width":1100,"height":235,"caption":"Redfin"},"image":{"@id":"https:\/\/www.redfin.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/redfin","https:\/\/x.com\/redfin","https:\/\/www.instagram.com\/redfinrealestate\/","https:\/\/www.linkedin.com\/company\/redfin","https:\/\/www.pinterest.com\/redfin\/","https:\/\/en.wikipedia.org\/wiki\/Redfin"]},{"@type":"Person","@id":"https:\/\/www.redfin.com\/news\/#\/schema\/person\/bdc24eea913c8cb2aa374507a15cbeaf","name":"Nela Richardson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/85fa132e1cbb75f73a6ff2e4a15eb4df33ac90a4ab070611389fc6bf4d468ea9?s=96&d=wp_user_avatar&r=g5f13dd2607eeea8d60a440b621ce21b1","url":"https:\/\/secure.gravatar.com\/avatar\/85fa132e1cbb75f73a6ff2e4a15eb4df33ac90a4ab070611389fc6bf4d468ea9?s=96&d=wp_user_avatar&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/85fa132e1cbb75f73a6ff2e4a15eb4df33ac90a4ab070611389fc6bf4d468ea9?s=96&d=wp_user_avatar&r=g","caption":"Nela Richardson"},"description":"Nela leads Redfin\u2019s housing market research team on data reports that help Redfin customers make informed choices. She comes to Redfin from Bloomberg LP, where she served as a senior economist with Bloomberg Government. She also served in past roles in the mortgage industry, capital markets and financial policy. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our \"Why Redfin?,\" page.","url":"https:\/\/www.redfin.com\/news\/author\/nela-richardsonredfin-com\/"}]}},"_links":{"self":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/61204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/users\/13421"}],"replies":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/comments?post=61204"}],"version-history":[{"count":0,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/posts\/61204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media\/71950"}],"wp:attachment":[{"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/media?parent=61204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/categories?post=61204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/tags?post=61204"},{"taxonomy":"dashboard","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/dashboard?post=61204"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.redfin.com\/news\/wp-json\/wp\/v2\/coauthors?post=61204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}