RDP 2016-04: Housing Prices, Mortgage Interest Rates and the Rising Share of Capital Income in the United States Appendix A: Sources of Data

Gianni La Cava

May 2016

Table A1: Information on Data Sources
Series Notes Sample period Unit Source
Housing prices Index based on repeat sales of single-family properties that have mortgages which have been purchased or securitised by Fannie Mae or Freddie Mac 1975–2014 MSA FHFA
Mortgage interest rates Average interest rate on new conventional single-family mortgages 1978–2012 State FHFA
Total personal income Compensation of employees plus self-employment income plus rental income of persons plus asset income plus current transfer receipts less contributions for government social insurance 1958–2014 MSA BEA
Population Number of resident individuals 1980–2014 MSA Census Bureau
Housing sector gross value added Total space rent (both imputed and not imputed) on the housing stock less maintenance costs 1963–2014 State BEA
Rental income of persons – owner-occupier Net operating surplus to owner-occupiers (i.e. gross imputed rent less housing expenses for owner-occupiers) 1958–2014 State BEA
Rental income of persons – tenant-occupier Net operating surplus to private landlords (i.e gross rent less housing expenses) 1958–2014 State BEA
Gross domestic product (GDP) Personal income plus gross operating surplus plus taxes on production and imports less government transfers 1963–2014 State BEA
Consumer price index (CPI) The CPI indices constructed for each state for the year 2000 based on price information provided by the American Chambers of Commerce Researchers Association combined with average expenditure shares from the Consumer Expenditure Survey; time-series price indices from the Bureau of Labor Statistics are used to create a panel of price indices 1982–2010 State Carrillo et al (2014)