Question by rdappa: If 2/3 of the economy is consumer spending, what part of consumer spending is the housing market?

Best answer:

Answer by simplicitus
It depends on how you define “the housing market”. (The usual definitions include house construction which is NOT consumer spending)

For purposes of computing the Consumer Price Index, the Bureau of Labor Statistics estimates that families spend an average of about 40% of their income on “housing” (up from about 30% in 2004). This include people who rent as well as people who own their own homes.

http://www.fonerbooks.com/cpi-u.htm

http://www.californiahousingforecast.com/guestcolumn/2007/9/15/percent-of-income-spent-on-housing.html

http://www.b-sustainable.org/social-environment/percent-of-income-spent-on-housing-and-transportation-costs

http://www.businessweek.com/the_thread/hotproperty/archives/2005/08/cpi_and_housing.html

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