Tue Apr 30, 2013, 07:39 PM
Purveyor (20,598 posts)
U.S. Homeownership Rate Falls to Lowest Since 1995
By Prashant Gopal and John Gittelsohn - Apr 30, 2013
The U.S. homeownership rate fell to the lowest in almost 18 years, reflecting rising demand for rentals and investor purchases in the housing market.
The share of Americans who own their homes was 65 percent in the first quarter, down from 65.4 percent a year earlier and the lowest level since the third quarter of 1995, the Census Bureau reported today. The vacancy rate for rented homes dropped to 8.6 percent from 8.8 percent a year earlier, while vacancies for owner-occupied houses fell to 2.1 percent from 2.2 percent.
Investors are buying single-family homes and renting them out to capitalize on demand among families unable to qualify for a mortgage. Their purchases, many made with cash, are helping to support the housing recovery and pushing up prices. Home values in 20 cities increased 9.3 percent in February from a year earlier, the most since May 2006, according to the S&P/Case- Shiller (SPCS20Y%) index released today.
“Credit conditions are still tight and investors are taking advantage, in the interim, of favorable yields,” Paul Diggle, property economist for Capital Economics in London, said in a telephone interview. “They’re making hay while the sun shines.”
Read more: http://www.bloomberg.com/news/2013-04-30/u-s-home-vacancies-fell-in-first-quarter-from-prior-year.html
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U.S. Homeownership Rate Falls to Lowest Since 1995 (Original post)
Response to Purveyor (Original post)
Tue Apr 30, 2013, 07:48 PM
BobbyBoring (1,800 posts)
2. It's all by design folks
I know how the American Indians felt now except my friends and family aren't being brutally murdered (yet). The fucking leeches are bound and determined to strip us of everything we have!
Response to BobbyBoring (Reply #2)
Tue Apr 30, 2013, 08:20 PM
jtuck004 (8,926 posts)
3. Why brutally murder them when you can just pocket their health care premiums? And
let thousands suffer heart attacks, strokes, and diabetes, all occurring in greater numbers among the 5 million plus homeowners foreclosed out of their lives the ongoing criminal enterprise of our financial system funded by the current administration under the guise of avoiding a depression. Highest poverty rates in 20 years, over 10 million families among those we call "working poor", and politicians chortle about paying down the debt.
They just don't call it by it's real name - blood money.