Commercial PropertyThe Best Government Resources For Housing, Economic Data
With the advent of the Internet, getting one"s hands on current and meaningful economic numbers is easier than ever. But just like trying to compare mattresses between retailers, you"ll never really get all the information at one place.
That said, it"s challenging to know whether you are really comparing "firm" with "extra firm" and "pillowtop" numbers. Complicating the data further is the fact that gathering economic information is expensive and time-consuming, and many sources may have fresh data, but it isn"t easily accessible because they don"t update their websites frequently enough.
To be sure you"re getting the latest information from an economic source, double-check the site"s FAQs and online reports against press releases in the "newsroom." If fresher data is available, it will be there. If the site isn"t updated, notify the public relations person on the latest press release to let them know the information hasn"t been updated to the site.
The best sites for government-sponsored data on housing and economics related to housing are:
Whitehouse.gov: The White House Briefing room online offers snapshots of crucial economic data, particularly jobs, households, money and output. The data comes primarily from the Bureau of Labor Statistics, U.S. Census, Federal Reserve Board, and the Bureau of Economic Analysis, an agency of the U.S. Department of Commerce.
BLS.gov: The Bureau of Labor Statistics is a treasure trove of all data related to employment, occupational outlooks, payroll data, and a key economic indicator for housing -- the consumer price index (CPI.) The CPI is defined as the "monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services." You can sign up to receive free press releases about a variety of topics included mass layoffs, metropolitan area employment and unemployment, and the consumer price index, all of which would be interesting for any bubbleista to mull over.
BEA.gov: The Bureau of Economic Analysis is operated by the U.S. Department of Commerce, and includes data regarding gross domestic product, defined as "the output of goods and services produced by labor and property located in the United States," gross state product, and FIRE, composed of finance, insurance, real estate, rental, and leasing. FIRE contributed more than any other industry group to real GDP growth -- about 25 percent in 2004. FIRE industries comprised a larger share of current-dollar GDP (20.7 percent) than goods-producing industries (19.6 percent) in 2004, says the BEA.
Census.gov: The U.S. Census Bureau does more than count heads every ten years, it gives a running U.S. occupancy count on the splash page of its website, and covers all statistics with regard to housing.
While some of its information is woefully out of date, the Bureau is attempting to find statistical means to extrapolate useful information. For example, The American Housing Survey (AHS) produces estimates of homeownership rates for the United States, four census regions, and metropolitan areas in odd-numbered years. Estimates for 41 metropolitan areas from the metropolitan area sample are updated every 6 years, with the residents of 13 or 14 metropolitan areas interviewed in even-numbered years. Estimates for 6 metropolitan areas whose residents are interviewed with the national sample are updated every 4 years in odd-numbered years along with national and regional estimates, says the site.