Comment by mupuff1234
2 years ago
It's crazy to me that housing is calculated as part of GDP - there's just something wrong about attaching a capitalistic value to someone having a roof above their head.
2 years ago
It's crazy to me that housing is calculated as part of GDP - there's just something wrong about attaching a capitalistic value to someone having a roof above their head.
> It's crazy to me that housing is calculated as part of GDP
According to the NAHB, housing contribution to GDP occurs in 2 ways:
a) Residential investment (averaging roughly 3-5% of GDP), which includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes, and brokers’ fees.
b) Consumption spending on housing services (averaging roughly 12-13% of GDP), which includes gross rents and utilities paid by renters, as well as owners’ imputed rents and utility payments.