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U.S. Homeownership Rate Lowest Since 1995
2013 Apr 30, 8:24am 8,894 views 19 comments
by David9 follow (0)
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19
Nobody
2013 May 2, 3:50am
How can the sales of real estate rise as the same time, the rate of home ownership is falling? It can only mean that the rich is buying up the house to rent to middle class to squeeze more money from the middle class. Another example of rich squeezing more milk from the rest of the population. It is time to tax them at the equal rate as the middle class.
Oh, and Wong, let's limit the number of properties that the foreigners can purchase.
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http://www.bloomberg.com/news/2013-04-30/u-s-home-vacancies-fell-in-first-quarter-from-prior-year.html
In a nutshell: "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 exact percentage: "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."
A reason prices are rising: "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."
Additionally: “Credit conditions are still tight and investors are taking advantage, in the interim, of favorable yields,” & “They're making hay while the sun shines.”
Don't hate the player hate the game.
#housing