Retooling Affordable Housing Strategies Part 2 of 19
Affordable housing is housing that costs the owner or tenant no more than 30 percent of gross income, according to Trend Dynamics the Department of Housing and Urban Development (HUD). Rent or mortgage payments that exceed this percentage are considered a cost burden to the household because other basic expenses like health care, education and transportation are compromised.
In Texas, the number of families facing a cost burden is growing three times faster than the availability of decent, affordable housing, according to the Texas Low Income Housing Information Service. Rising housing costs have created a housing shortage Forex Trading Machine not only for lower-income groups, but also for middle-income professions such as teachers, nurses, firefighters, police officers and others who cant afford to live in the communities they serve. Maintaining employment does not guarantee that a family can find decent affordable housing.
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US Economy and Globalization Part 10 of 17
Second, price pressures at the margin are compounded by noncommercial activity in the markets that trade oil. Noncommercial contractsthe busywork of the “city refiners” in the financial exchanges in London and other placeshave been running at triple their traditional Forex Essentials volume lately.
Prices for gasoline and distillateswhere the pass-through rubber hits the consumer price roadare starting to inch up in response. Our retail gasoline price models at the Dallas Fed envision pump prices above $3 a gallon for the foreseeable future if crude stays above $85. Price pressures for other distillates are also becoming increasingly probable. And last, high inventories continue for natural gas, but it is noteworthy that prices have reversed their summer slide downward to $5.50 per million BTU and are now quoted at $7.15 at the Henry Hub in Louisiana, the key metric point for the U.S.
All this gives me a sense of discomfort on the headline inflation front, and it is a reminder that the balance of risks is not skewed unilaterally toward slower growth. This Trend Dynamics is not to say I expect inflation to veer out of control. But rather, it means that we must remain far from smug on the inflation front and must conduct monetary policy bearing in mind that the battle against the nemesis of inflation is a perpetual effort.
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Balancing Inflation and Growth Part 11 of 13
One would like to think that as the economy slows, inflationary pressures will do likewise. But we cannot always be sure they will, given the globalized commodities trading system nature of the U.S. economy. Demand-pull pressures abroad have an increasingly potent influence on our domestic economy. Traditionally, a central bank would expect slack to develop as the economy under its jurisdiction weakened, leading to less demand for most inputs and an easing of price pressures. We no longer operate in a traditional economy. Domestic inflation developments have become increasingly less sensitive to domestic measures of slack. In an open, globalized economy, capacity utilization and inflation pressures need to be measured, or at a minimum, understood in their global context.
You cannot think in a purely domestic context about the pricing of oil or steel or soybeans or pulp or shoes or clothing or even what I consider to be one of lifes essentials, beer, because innovations in transportation and communications technology have all but eliminated national borders for almost any product for which trade barriers were negotiated away during the 1980s and 90s. More commodity training books vexing for economists and econometric modelers, the information technology revolution and the spread of the Internet have blurred the once-clear distinction between easy-to-trade goods and difficult-to-trade services.
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