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BUSINESS INSIDERMore: Maps GDP Cities

Half Of US GDP Comes From The Orange Spots On This Map

ANDY KIERSZ 

 
27 MINUTES AGO 241 

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America's cities are economic powerhouses.

Reddit user atrubetskoy created a map showing just how important cities 
are to the American economy. atrubetskoy took gross metropolitan product data —
the total of economic
activity in a metropolitan area, and the equivalent of gross domestic product for cities
— and noted that the top 23 cities have GMPs that add up to about to half of overall
United States GDP.

The orange regions fall in those top 23 metro areas, and the blue region falls outside
them, accounting for the other half of GDP:

Reddit user atrubetskoy

Here are the top 23 cities, and their 2012 gross metropolitan products, from the Bureau of Economic Analysis:

Read more: http://www.businessinsider.com/us-gdp-map-2014-2#ixzz2tn5VFmQU

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New 3486 Plan

from the same month last year, but dropped

http://www.columbian.com/news/2014/feb/12/january-home-permitting-increase-clark-county/

Homebuilding activity in Clark County picked up in January from the same month last year, but dropped a bit from the previous month, according to a county report issued Tuesday.

Clark County's Community Development Department issued 62 permits to build single-family homes in unincorporated parts of the county last month, up nearly 15 percent from 54 permits issued in January 2013. January's total was down 14 percent from the 72 permits handed out in December 2013.

January's 62 permits for single-family homes were valued at $21 million. There were 54 permits valued at $15.5 million in January 2013.

Housing Share of the Economy at 15.3%

 From NAHB 2/12/2014

Housing Share of the Economy at 15.3%

Housing is an important source of economic growth. As of the final quarter of 2013, housing’s share of gross domestic product (GDP) was 15.3%, with home building yielding 3.1 percentage points of that total.

Housing-related activities contribute to GDP in two basic ways.
The first is through residential fixed investment (RFI). RFI is effectively the measure of the home building and remodeling contribution to GDP. It includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes and brokers’ fees. For the fourth quarter, RFI was 3.1% of the economy.
While the final quarter of 2013 was effectively tied with the second quarter of the year for the strongest level of RFI after the Great Recession ($487 billion annualized pace), the drop from the noticably strong third quarter pace ($500 billion annualized) resulted in home building yielding a negative impact on the fourth quarter headline GDP result of 3.2% growth.  This was the first negative contribution since the first quarter of 2011. Nonetheless, the trend in recent quarters indicates that RFI is growing faster than the economy as a whole. For example, over the last two years, GDP has grown about 4.7%, while RFI is up 22.8%.
The second impact of housing on GDP is the measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units) and utility payments. The inclusion of owners’ imputed rent is necessary from a national income accounting approach because without this measure increases in homeownership would result in declines for GDP. For the fourth quarter, housing services was 12.3% of the economy.
Historically, RFI has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle.