Thursday, February 4, 2010
By the end of fourth quarter 2009, percentage of American home owners fell to 67.3 percent. During 2004, homeownership reached a high of 69 percent, fueled by low interest rates and easy credit. But in 2006, the rate began to fall as some owners failed to make their payments and faced foreclosure. Since then nearly 4 million homes have been lost to foreclosure.
“The homeownership data I think really just underscores how this country as a whole became obsessed with getting people into homes," says Mike Larson, real estate and interest rate analyst at Weiss Research Inc., an investment-research firm. "You can do all kinds of things to get people into a house, which we did; the real problem is making it so they can stay there."



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