Housing contributes roughly 16% to GDP with 3% to 5% coming from spending on new single family homes, apartment buildings, and remodeling. Another 12% to 13% is spent on housing services which includes rent, utilities, insurance, an internet connection through cable, and maintaining the property. Housing is more important than manufacturing which represents about 12% of GDP. In the first quarter of 2025 housing was 16.4% of GDP. The biggest challenge for housing is Affordability and that’s not likely to improve much in coming quarters. Affordability is the combination...
