"Q4 2010: Homeownership Rate Falls to 1998 Levels" "The homeownership rate increased in the '90s and early '00s because of changes in demographics and "innovations" in mortgage lending. Some of the increase due to demographics (older population) will probably stick, so I've been expecting the rate to decline to around 66%, and probably not all the way back to 64%." "Note: Some analysts also add in... [more]
"Q4 2010: Homeownership Rate Falls to 1998 Levels"
"The homeownership rate increased in the '90s and early '00s because of changes in demographics and "innovations" in mortgage lending. Some of the increase due to demographics (older population) will probably stick, so I've been expecting the rate to decline to around 66%, and probably not all the way back to 64%."
"Note: Some analysts also add in the increase in "held off market, other" units to track the excess housing units - and that has increased from 2.6 million units at the end of 2005 to 3.6 million units at the end of 2010."
http://www.calculatedriskblog.com/2011/01/q4-2010-homeownership-rate-falls-to.html
Yet another sign that the bubble keeps slowly, inexorably, deflating...
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Response by pulaski
over 15 years ago
Posts: 824
Member since: Mar 2009
"Nearly 11 Percent of US Houses Empty"
"More concerning than the home ownership rate is the vacancy rate. The Census tables don't tell the entire story, but they tell a lot of it. Of the nearly 131 million housing units in this country, 112.5 million are occupied. 74.8 million are owned, and that's only dropped by about 30 thousand in the past year. 38 million are rented, but that's up by over a million year over year. That means more new households are choosing to rent.
Now to vacancies. There were 18.4 million vacant homes in the U.S. in Q4 '10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago, but not for the reasons you'd think.
The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as "Held off Market" about half for temporary use, but the other half are likely foreclosures. And no, the shadow inventory isn't just 200,000, it's far higher than that. "
"The Collapse In U.S. Homeownership Is Much Greater Than Reported In The Media"
"The following is from economist Tom Lawler. He points out that the homeownership rate in April 2010 was significantly lower than previously thought. Tom also notes that the age adjusted homeownership rate was lower in April 2010 than in April 1990! Yeah, 1990."
"Nearly 11 Percent of US Houses Empty"
"More concerning than the home ownership rate is the vacancy rate. The Census tables don't tell the entire story, but they tell a lot of it. Of the nearly 131 million housing units in this country, 112.5 million are occupied. 74.8 million are owned, and that's only dropped by about 30 thousand in the past year. 38 million are rented, but that's up by over a million year over year. That means more new households are choosing to rent.
Now to vacancies. There were 18.4 million vacant homes in the U.S. in Q4 '10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago, but not for the reasons you'd think.
The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as "Held off Market" about half for temporary use, but the other half are likely foreclosures. And no, the shadow inventory isn't just 200,000, it's far higher than that. "
http://www.cnbc.com/id/41355854
"The Collapse In U.S. Homeownership Is Much Greater Than Reported In The Media"
"The following is from economist Tom Lawler. He points out that the homeownership rate in April 2010 was significantly lower than previously thought. Tom also notes that the age adjusted homeownership rate was lower in April 2010 than in April 1990! Yeah, 1990."
http://www.businessinsider.com/us-homeownership-1990-2011-6
People who were foreclosed upon are not going to be home owners soon, yet Rents are going up and properties eventually get sold.
Translation-More concentration of Real Estate with more homes being investor owned properties.
Riversider is like the Jewish statistician being paid by the nazis.
Riversider says ' the nazis were good to the Jews, Bc they only gassed 95% of the concentration camp when they could have easily done 98%!'.
How does it feel to betray your own people, oh fk how does it feel to betray your own intellect for the almighty Deutsche mark?