https://www.google.com/analytics/web/#home/a69066132w111663562p116541675/

The Sky's NOT Falling-Why All the Chicken Littles Should Calm Down

Dated: 08/10/2019

Views: 8

BY 
Real Estate Agent with Allison James Elite CA. BRE 01501699
 
Why All the Chicken Littles Should Calm Down | MyKCM

The U.S. Census Bureau recently released their 2019 Q2 Homeownership Report. Some began to see the sky falling, believing the report showed Americans may be stepping back from their belief in homeownership.

The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% in 2004. The Census Bureau reported that the second quarter of 2019 ended with a homeownership rate of 64.1%, which is down from the 64.8% rate for the fourth quarter of 2018. Based on this news, some started to question the consumer’s belief in the idea of homeownership as a major part of the American Dream.

Everyone Calm Down…

It is true the homeownership rate did fall. However, if you look at the national rate over the last 35 years (1984-2019), you can see that the current homeownership rate has returned to historical norms. The 64.1% rate is equivalent to the rates in 1984 and 1994.Why All the Chicken Littles Should Calm Down | MyKCM

What Will the Future Bring?

Part of the reason the homeownership rate slipped is a lack of inventory available for purchase for first-time home buyers. The demand is there, but currently, the supply is not. It seems, however, that is about to change.

In a recent report, Ivy Zelman explained that builders have finally started to increase the number of homes they’re constructing at the lower-end price points:

“Robust growth in the entry-level price point of late should translate to a reacceleration in homeownership rates moving forward.”

Bottom Line

Today, the homeownership rate sits at historic norms. In all probability, it will increase as more inventory becomes available. There is no reason for concern.

My Los Angeles County Real Estate BLOG   My Ventura County Real Estate BLOG

#363BentTwig  Investor Fix & Flip-Bidding Ends SOON!   #ChrisBJohnsonRealtor  #AJIBoom #363BentTwig

 

 

What is My Home Worth?

Facebook Badge

About Me

My photo
Chris B. Johnson REALTOR® Specializes in Luxury Estates and Home Auctions. Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sell a home. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve. I believe in Quality, NOT Quantity.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
POSTED BY

#TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal, #ChrisBJohnsonREALTOR,#TopProducer,#FlipandFix,#RealEstateInvestor,#RentalProperties, #BoomerageBuyers,#MultiGenerationalBuyers,#AJIBoom,#FindYourDreamHome,#PreApproval

Blog author image

Chris B Johnson

state_license/dre/bre_number: CalDRE 01501699 Chris B. Johnson REALTOR® Specializes in Luxury Estates and Home Auctions, Short Sale, Foreclosure and Probate Real Estate, Chris has been Certified as a....

Latest Blog Posts

Is The Housing Affordability Crisis REAL??

BY CHRIS B JOHNSON REALTOR®Real Estate Agent with Allison James Elite CA. BRE 01501699EMAIL   Share:August 16, 2019 10:15 AM My Los Angeles County Real Estate BLOG 

Read More

$oCal Benefits of Growing Equity in Your Home

BY CHRIS B JOHNSON REALTOR®Real Estate Agent with Allison James Elite CA. BRE 01501699EMAIL  Share:August 14, 2019 03:34 PM My Los Angeles County Real Estate BLOG  

Read More

Property Brothers, Fixer Upper, or Love It or List It, 5 Real Estate Reality TV Myths Explained

BY CHRIS B JOHNSON REALTOR®Real Estate Agent with Allison James Elite CA. BRE 01501699EMAIL   Share:August 13, 2019 08:44 AM My Los Angeles County Real Estate BLOG 

Read More

Confidence in Housing at an All-Time High for Americans #TimeToBuy

BY CHRIS B JOHNSON REALTOR®Real Estate Agent with Allison James Elite CA. BRE 01501699EMAIL   Share:August 12, 2019 10:07 AM My Los Angeles County Real Estate BLOG 

Read More