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Tag Archives: Homeownership Rate

Half of Consumers Fear Another Housing Bubble Is Forming

While many indicators suggest the housing market is recovering, some fear another bubble is already forming. A survey by Country Financial, a financial services firm in Illinois, found that some 48 percent of Americans believe the market could reach ""bubble"" status within the next two years. Bubble or no bubble, many Americans continue to suffer financial burdens that impede them from homeownership.

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Survey: Hispanics View Homeownership Favorably

As the fastest-growing segment of the population, Hispanic Americans will play an important role in the future of the housing market. Since the recession, homeownership has declined faster among Hispanics than among the overall population, dropping from 64 percent in 2012 to 46 percent today. Despite the decline, Hispanics are even more likely to view homeownership favorably than the general population, Fannie Mae reports.

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Report: Homeownership on Path to Sustainability

As most housing metrics turned around last year, one vital statistic stayed down: the homeownership rate. However, one analyst at Fannie Mae says low homeownership--when put in context with other data--might indicate a promising trend in sustainability; in particular, tight loan qualification standards should equate to new homeowners whose housing costs are much better aligned with incomes.

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Industry Vets Launch New Group to Advocate for America’s Homeowners

America's Homeowner Alliance announced this week that it is officially open for membership. Launched by a team of industry veterans led by Phil Bracken and guided by an advisory board made up of representatives from the housing industry, prominent consumer groups, and fair housing organizations, America's Homeowner Alliance is the first nationally organized group dedicated to protecting and promoting sustainable homeownership for all segments of America.

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Impact of Housing Downturn on Largest Immigrant Groups

While the housing downturn impacted all foreign-born American homeowners, immigrant populations were impacted differently, according to a report from Fannie Mae's Economic & Strategic Research Group. Using Census Bureau data from 2007 to 2011, Fannie Mae researchers set out to understand how immigrant homeowners were impacted by the housing collapse.

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What’s Happening Beyond ‘Recovery’ Headlines?

Industry indicators such as rising prices, increases in construction, and declines in the number of underwater homeowners tell a story of a broad housing recovery, but Harvard's Joint Center for Housing Studies (JCHS) sheds light on a less popular story in a report released Wednesday. Homeownership is down, and consumer spending on housing as a portion of income is up. Market conditions are pushing more households into rentals, even those in categories that used to maintain high homeownership rates.

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Commentary: Does Homeownership Cause Unemployment?

Can the drop in homeownership be good news? When President George W. Bush followed his predecessor Bill Clinton in pushing homeownership, one loud dissenter was British economist Andrew Oswald who argued that far from improving the economy, as Bush (and Clinton before him) said it would, homeownership hurts the economy in the long run. Oswald produced data to show that every five percent rise in homeownership results in a one percentage point increase in the unemployment rate.

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Commentary: Driving With No Speedometer

Imagine if someone removed the speedometer from your car and then put limits on how fast or slow you could drive. That's what 11 House members are doing with legislation which would prohibit the Census Bureau from any data collection except for the decennial headcount of Americans. The impact of the bill HR 1638 would be to eviscerate and effectively eliminate the monthly employment situation report that produces, among other things, the unemployment rate as well as a host of other bits of data about the economy. The sponsors of the bill must believe that if we don't count unemployment it won't exist.

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Tight Lending, Foreclosures to Prompt Homeownership Declines

With the homeownership rate already at its lowest point since 1995, Capital Economics predicts further decline before a rebound occurs. The analytics firm predicted last July that the homeownership rate would fall to a low of 64 percent, and the firm is sticking to that forecast. The firm suggests the 64 percent low will come sometime ""within a year or so,"" and when it does, the market will have about 9 million more renters when the homeownership rate peaked. One of the major contributors to the ongoing decline in homeownership is the high level of foreclosures that continues to challenge the market.

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Homeownership Rate Drops to 18-Year Low

The number of households owning homes fell 698,000 to 74,511,000 in the first quarter, the first decline in almost two years, according to a Census Bureau report Tuesday. At the same time, the nation's homeownership rate fell to 65 percent (seasonally adjusted), the lowest level since the fourth quarter of 1995. The Census data paints a grim picture for the home sales market, which has already been struggling against mortgage restrictions and weak inventory.

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