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Homeownership Drops to Lowest Rate in 50 years

By Call it Crazy   Follow   Mon, 27 Aug 2012, 7:39pm   343 views   2 comments
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http://www.housingwire.com/content/homeownership-drops-lowest-rate-50-years

....."The U.S. homeownership rate is at a 50-year low with another 3.8 million borrowers closer to losing their properties, a report from John Burns Real Estate said Monday."

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I guess low mortgage rates aren't helping to spur the housing recovery......

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1. everything Follow Befriend (2) 3 threads 546 comments Madison, WI

   1   8:45pm Mon 27 Aug 2012   Share   Quote   Permalink   Like   Dislike   It was all part of the game, one that likely will not be repeated, and that was for investors to get more investment income (i.e. rentals), out of the deal. Everywhere I look in the area that I live in I see rentals being built. Sure the middle class has a share, but I also see either an old Mom & Pops, or an old lady living all by herself in a house, also I'll see a house with 5-6 cars in the driveway/yard. Just like back in the early days in the run up some places sit on the market for years because their is something wrong with it, eventually an investor/contractor will buy it for 25% asking dig into it and flip it.

2. BoomAndBustCycle Follow Befriend 28 threads 351 comments

   2   12:01am Tue 28 Aug 2012   Share   Quote   Permalink   Like   Dislike   Just what we need... A nation of renters who won't have a place to live or social security or medicare to fall back on in their old age.