What is Housing in the United States?
'''Housing''' is an important part of the US economy. It is about 15% of the [[Gross Domestic Product]] (GDP). [[Housing]] contributes to both the [[private investment component]] of the GDP as well as the [[Consumption (economics)|consumption component]]. ==Private investment housing component== This is the part of the GDP that comes from [[construction]], [[renovation]], and [[home purchase fees]]. In 2000 it contributed $425 billion or 4% to the GDP (25% to the private investment component) ==Personal consumption component== This is the part of the GDP comes from [[real estate]] [[rentals]]. In 2000 it contributed $959 billion, or 10% to the GDP (14% of the personal consumption component).<ref>{{Cite web |url=https://www.nahb.org/en/research/housing-economics/housings-economic-impact/housings-contribution-to-gross-domestic-product-gdp.aspx |title=Housing's Contribution to Gross Domestic Product (GDP) |access-date=2019-06-21 |archive-date=2019-06-19 |archive-url=https://web.archive.org/web/20190619193309/https://www.nahb.org/en/research/housing-economics/housings-economic-impact/housings-contribution-to-gross-domestic-product-gdp.aspx |url-status=dead }}</ref><ref>{{Cite web |url=http://www.michaelcarliner.com/HE0110-Hous-GDP.pdf |title=Archived copy |access-date=2019-06-21 |archive-date=2021-05-01 |archive-url=https://web.archive.org/web/20210501122159/http://www.michaelcarliner.com/HE0110-Hous-GDP.pdf |url-status=dead }}</ref> ==Affordable housing== Homes in 2019 in the United States were least [[affordable housing|affordable]] to purchase compared to any other year in the last ten last years. This is because home prices are increasing much faster than [[wage]]s.<ref>{{cite web | url=https://www.usatoday.com/story/money/2019/02/26/housing-market-where-homes-are-the-most-affordable-in-the-us/39087799/ | title=These are the 25 most affordable housing markets in the US | website=[[USA Today]] }}</ref> According to [[USA Today]], cities with large [[universities]] were a good choice for [[university student]]