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Americans' love of their homes is widely known and acknowledged; [86] however, many believe that enthusiasm for home ownership is currently high even by American standards, calling the real estate market "frothy", [87] "speculative madness", [88] and a "mania". [89]
This is an important point to understand changes in the home ownership rate over time. The bust of the housing bubble resulted in many houses becoming foreclosed. However, the decrease in the home ownership rate from 3Q2007 to 4Q2007 was mostly a result of an increase in the renter's population and less due to a decrease in the homeowner ...
Housing is also important to developers, builders, lenders, realtors, investors, architects, and other specialized professions and trades. These groups view housing as a commodity for financial gain. [6] As the United States industrialized in the 20th century, demand for housing fueled job growth and consumer products to create economic growth.
Ever since the end of the boom years of the early 2000s, the housing market has struggled to hit bottom, seemingly plowing ever lower even after years of declines. As a result, millions of former ...
Here's more evidence that the foreclosure crisis has changed the way we think about home ownership's place in the American dream. Nearly half of those polled in a newly released survey said that ...
The impact of booming home valuations on the U.S. economy since the 2001–2002 recession was an important factor in the recovery, because a large component of consumer spending was fueled by the related refinancing boom, which allowed people to both reduce their monthly mortgage payments with lower interest rates and withdraw equity from their ...
Anytime that something is nationally recognized as "The American Dream", there's a good chance that it's overrated.In the midst of record foreclosures, and plummeting home values leaving people ...
1933-1939 The New Deal is a group of new laws created to fix problems in the Great Depression economy, including methods to increase home ownership for Americans .; 1934 The National Housing Act of 1934, part of the New Deal, makes more affordable housing and home mortgages.