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The Regional Economy, Housing Market and Transportation System: Implications and Challenges

The Regional Economy, Housing Market and Transportation System: Implications and Challenges. LIVE NEAR YOUR WORK SEMINAR. June 14, 2007. Metro Comparisons Job Change 2000-2005 15 Largest Metro Areas. Thousands. WASHINGTON. Source: BLS, GMU Center for Regional Analysis.

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The Regional Economy, Housing Market and Transportation System: Implications and Challenges

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  1. The Regional Economy, Housing Market and Transportation System:Implications and Challenges LIVE NEAR YOUR WORK SEMINAR June 14, 2007

  2. Metro Comparisons Job Change 2000-200515 Largest Metro Areas Thousands WASHINGTON Source: BLS, GMU Center for Regional Analysis

  3. 15 Largest Job MarketsRanked by Unemployment RateApril 2007 % U.S. 4.3% 2.8 Source: BLS, GMU Center for Regional Analysis Data not seasonally adjusted

  4. Average Sales PriceAll Housing TypesWashington Metro $ +5.8% +10.5% +13.6% +13.8% +20.1% +23.1 +2.0% -0.4% Source: MRIS, GMU Center for Regional Analysis

  5. Metro Comparisons Percent Change in House PricesLast Five Years(Q3 01– Q3 06) Percent WASHINGTON Conforming Mortgages Only Source: Office of Federal Housing Enterprise Oversight, GMU Center for Regional Analysis

  6. Annual Change In Housing Demand vs. Housing Supply1995 - 2010Washington MSA Thousands Demand 47,700 32,600 Supply

  7. Congestion in the Washington Region is Getting Worse: 1990-2005 % Leave Home < 6:00 AM % With Work Trip > 45 Min.

  8. 1982 to 2003 Change in Annual Hours of Delay Per Traveler • Atlanta • Washington • Dallas • Los Angeles

  9. Implications and Challenges • Higher Housing Costs • Higher Transportation Costs • Higher Cost of Living • Declining Affordability • Declining Comparative Advantage

  10. Some Solutions • Live Closer to Work • Increase Supply of Housing & Higher Densities • Increase Supply of Transportation Facilities and Services • Telecommuting

  11. www.cra-gmu.org

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