WASHINGTON, DC (October 20, 2015) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement in response to the Commerce Department’s September housing report, which showed housing starts increased 6.5 percent from August to a seasonally adjusted annual rate of 1.21 million in September.
“The data on housing starts is encouraging, but reconfirms that much of the recent strength in the market is focused in the multifamily segment,” said Long. “This speaks to the inability of many potential borrowers to afford to purchase housing due to high prices, steep down payment requirements and tight inventory.”
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
