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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 ...
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]
Increasing home ownership has been the goal of several presidents, including Roosevelt, Reagan, Clinton, and George W. Bush. [2] Some experts say the events were driven by the private sector, with the major investment banks at the core of the crisis not subject to depository banking regulations such as the CRA. In addition, housing bubbles ...
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 national median home price hit a record $360,000 during the spring. With mortgage rates coming in at about 7 percent, the cost of owning a home has outpaced recent increases in wages ...
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.
More Americans own a home than they did 10 years ago, with the homeownership rate rising to 65.5% in 2021 compared to 64.7% in 2011. But Black households continue to see their ownership share lag ...