Homeownership rate falls to third lowest on record

[jamesbond]

The rate that Americans own their homes fell in the first quarter to the third lowest on record, another indication that worsening finances as well as changing preferences since the Great Recession are altering behavior.

The Commerce Department reported that the ownership rate fell a tenth to a seasonally adjusted 63.6% in the first quarter, marking the third lowest figure since the 63.5% low in the second quarter of 2015. The ownership rate was 67.8% in the quarter when the U.S. entered recession.

The diminished interest, or ability, to own a home comes at a time when mortgage rates are low but house prices are climbing.

Freddie Mac reported the benchmark 30-year fixed-rate mortgage rose to 3.66% in the week ending April 28. The 30-year mortgage has been below 4% throughout 2016, according to Freddie Mac data.

However, home prices are on the move, particularly out west. According to Case-Shiller data, prices nationally rose at a 5.4% clip in the 12 months ending February. Some cities including Denver and Portland are seeing double-digit percentage increases.

Rents also are picking up, however. The median asking price for rent was $870 in the first quarter, the Commerce Department reported, representing year-over-year growth of 8.9%.


http://www.marketwatch.com/story/homeow ... 2016-04-28

[w.p.o.]

Saw it on drudge report. The fool in the oval office is trying to make a case for himself. Ron White was right; "you can't fix stupid."

[Moretorque]

Saw it on drudge report. The fool in the oval office is trying to make a case for himself. Ron White was right; "you can't fix stupid."

You act as so Obama is in charge, he isn't along with the rest of the stooges. The BANK runs the show here.... who provides the funding for the homes as well as appraisal ?

[w.p.o.]

Saw it on drudge report. The fool in the oval office is trying to make a case for himself. Ron White was right; "you can't fix stupid."

You act as so Obama is in charge, he isn't along with the rest of the stooges. The BANK runs the show here.... who provides the funding for the homes as well as appraisal ?

It's him and the sorority (as micheal savage would say). Although obama is just a soros puppet, he is the one circumventing congress to screw things up. This is why congress has an all time low approval rating. If we had a REAL congress, this spoiled red diaper doper baby would've been impeached in 2009 (almost as soon as he took office!). "We need a change in the senate so we can impeach the sob" was all the rage in 2014. The most impeachable "president" in history and the back stabbers took impeachment off the table. Worse than Buchanan, Johnson, harding, hoover, wilson, FDR, carter and clinton combined.

[Moretorque]

WPO, you still seem to have trouble understanding this. Where did SOROS get his money ? Where does all money come from ? the money stork.

Watch the documentary " The Money Master's ? 1996.

[MrMan]

Finance professors who believe in strong markets will argue it doesn't matter, financially, if you own a home. You can just put your money into something else that earns about 5% and be just as well off-- unless you are better than average at getting a deal on a home. If you own the home, you have to pay for insurance and repairs. Renting may be more than a mortgage, but the land lord takes over some of these other costs. Home owners typically have to pay property tax as well.

But the down side is that if you rent, you are not allowed to knock a wall down. You may be forbidden by your contract from even having a picture. They can kick you out when they want, at least at the end of a lease term, too. So there are some disadvantages to that as well.

I don't see it as a big deal as an economic indicator though, except for people in the real estate, construction, and related industries.

[Moretorque]

You don't own $hit, you rent from the state. There is a lien on all the property securing it to the creditors .....

[w.p.o.]

WPO, you still seem to have trouble understanding this. Where did SOROS get his money ? Where does all money come from ? the money stork.

Watch the documentary " The Money Master's ? 1996.

same place where Luciano, Gagliano, Bonnano, Profaci, Columbo, Genevese, Luchesse, etc got theirs.

[Moretorque]

WPO, you still seem to have trouble understanding this. Where did SOROS get his money ? Where does all money come from ? the money stork.

Watch the documentary " The Money Master's ? 1996.

same place where Luciano, Gagliano, Bonnano, Profaci, Columbo, Genevese, Luchesse, etc got theirs.

So what are you saying about Soros, is he like in charge or something ? all the billionaires are to be owned by the trillionaire class. They say what the are going to do in the Elders of Zion through banking credit and claim they will keep millionaires around to do the up front in your face managerial work for them but with adjusted inflation over a 100 years it's now billionaires and trillionaires, such is the system of make believe that this credit system allows......

They just inflate to the moon Alice !

[w.p.o.]

You don't own $hit, you rent from the state. There is a lien on all the property securing it to the creditors .....

Not if it's fully paid for.

[w.p.o.]

WPO, you still seem to have trouble understanding this. Where did SOROS get his money ? Where does all money come from ? the money stork.

Watch the documentary " The Money Master's ? 1996.

same place where Luciano, Gagliano, Bonnano, Profaci, Columbo, Genevese, Luchesse, etc got theirs.

So what are you saying about Soros, is he like in charge or something ? all the billionaires are to be owned by the trillionaire class. They say what the are going to do in the Elders of Zion through banking credit and claim they will keep millionaires around to do the up front in your face managerial work for them but with adjusted inflation over a 100 years it's now billionaires and trillionaires, such is the system of make believe that this credit system allows......

They just inflate to the moon Alice !

soros is a racketeer - like the clintons.