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Tag Archives: Homeownership Rate

Gallup Poll: 81% of Americans Either Own or Plan to Within 10 Years

The American Dream is still alive, and a recent survey from Gallup provided the data to support this conclusion. According to the survey, more than half of Americans (56 percent) own and plan to continue owning, while 25 percent say they don't own but plan to in the next 10 years, which means 81 percent of Americans either own or have the intention to. The research company, however, noted that the current share of overall homeownership found is actually the lowest since the question was first posed in 2001.

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BofA CEO Speaks on Future of Housing in America

Speaking before the Brookings Institution in Washington, Bank of America CEO Brian Moynihan raised the issues of whether homeownership is right for everyone and how the mortgage market will be financed in the future. While most Americans continue to include homeownership in their personal image of the American dream, Moynihan says, ""as a just democratic society, we owe all our citizens a safe, good place to live, but a roof over one's head doesn't always have to come with a mortgage. In some cases, it shouldn't come with that.""

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Study Argues FHA’s Underwriting Policies Set Families Up for Failure

The Federal Housing Administration (FHA) has a mission of making the American dream of homeownership accessible to low- and moderate-income families and first-time homebuyers. However, due to FHA's underwriting policies and practices, Edward Pinto, resident at the American Enterprise Institute (AEI), argued the administration has instead put ""a high percentage of low- and moderate-income families and communities at risk of excessively high foreclosure rates.""

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Trulia: 93% of Young Renters Plan to Become Owners

Consumers are becoming more positive toward the idea of homeownership as home prices rise and the threat of delinquencies and foreclosures subside, Trulia reported Wednesday. Confidence in future ownership is especially prevalent among young renters. According to Trulia's American Dream survey, 93 percent of renters between the ages of 18 and 34 plan to purchase a home some day. For 31 percent of renters, that ""some day"" is actually within the next two years, an increase from 28 percent in May 2012 and 22 percent in January 2011.

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Bernanke Speaks on Impact of Crises on Minorities, Low-Income Families

In a speech Thursday at the Operation HOPE Global Financial Dignity Summit in Atlanta, Federal Reserve Chairman Ben Bernanke spoke of the amplified effect the housing crisis has had on minorities and low-income families across the country. ""Lower-income and minority communities are often disproportionately affected by problems in the national economy, and the effects of the housing bust have followed that unfortunate pattern,"" Bernanke stated.

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Homeownership Remains Low Despite Decreasing Burden of Owning

Despite the recent declines in homeownership, the cost burden of owning a home decreased in 2011 and has ""fallen substantially for young owners during the last four years,"" Fannie Mae stated in a recent report. When measuring housing cost burden, analysts often look for households paying more than 30 percent of their gross income in housing costs, which analysts define as rental or mortgage payments combined with utility spending. In 2011, the percentage of homeowners who fell into this category decreased by about one percentage point. In contrast, the number of renters in this category grew.

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Homeownership Rate Stays Near Historic Lows

The number of households owning homes rose to 75,076,000 in the third quarter from 74,832,000 in the second, but down from 75,251,000 a year ago, the Census Bureau reported Tuesday. At the same time, the nation's homeownership rate (seasonally adjusted) remained at 65.5 percent. The homeownership rate stayed near historic lows. The rate in the first quarter was 65.4 percent, the lowest since the first quarter of 1997.

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Kansas City Rally Cry: Housing Downturn Put 3.2M out of Work

More than 800 homeowners from across Missouri, Kansas, and Nebraska came together with local business leaders, real estate professionals, politicians, and civil rights leaders this week in support of homeownership. Speakers at the rally put the importance of homeownership into perspective when they told the audience that during the worst of this recession, roughly 3.2 million Americans were out of work as a result of the housing downturn.

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Report: Homeownership at Lowest Rate in Nearly 50 Years

A report released Monday from John Burns Real Estate Consulting revealed that the real homeownership rate-measured as the percentage of households that own a home and are not seriously delinquent on their mortgage-has fallen to 62.1 percent, the lowest level in almost half a century. The firm said that the Census Bureau's 65.5 percent homeownership estimate was a vast overestimate, as it includes 3.8 million homeowners who are 90 or more days delinquent.

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