Do you know a friend who is interested in buying a home?CLICK HERE

Schedule A MEETING

Meet with one of our agents for a consultation… CLICK HERE

Why Invest TODAY?

Check out these FAQs to help you decide whether to invest today or not… CLICK HERE

Homeownership Rate in the U.S. Tumbles to the Lowest Since 1965

Source: Bloomberg

The share of Americans who own their homes was 62.9 percent in the second quarter, the lowest since 1965, according to a Census Bureau report just released. As rising prices put buying out of reach for many renters, it was the second straight quarterly decrease, down from 63.5 percent in the previous three months. Mark Vitner, a senior economist at Wells Fargo Securities LLC, commented, “One of the biggest hurdles now is affordability. Home prices are rising so much faster than incomes, so it’s hard for buyers to save for a down payment.” First-time buyers in particular have been struggling to find affordable properties as low mortgage rates and an improving job market spur competition for a tight supply of listings.

Homeownership Plunge

This entry was posted in Buying a Home, Mortgage, Real Estate and tagged , , , . Bookmark the permalink.

Leave a Reply




Contact Information

CA Department of Real Estate Lic.# 01960213
  • facebook
  • twitter
  • linked in