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Construction’s Impact on Other Industries during the Great Recession
Industries that trade heavily with the construction industry were hit sooner and harder by the Great Recession than those that don’t.
Newsletter
Why Housing Has Been So Strong, but Might Not Be for Long
The current monetary policy tightening cycle has seen the fastest increases in the fed funds rate in more than 40 years. While not all tightening cycles have led to significant increases in mortgage rates (e.g., the 1988, 2016, and 2004 cycles), this time around mortgage rates have increased by close to 400 basis points (bps) in the first seven months since lift off (see figure A1 in the appendix). In this Chicago Fed Letter, we describe how this increase has shaped (and is still shaping) the dynamics of the housing sector.
Journal Article
Demographics, COVID-19 Leave Construction with Tight Labor Supply
Although pandemic-induced material shortages may improve, the construction industry’s labor supply challenge is the result of longer-term demographic issues.