There was fresh data from the government Tuesday showing that the American dream of owning a home is fading fast.Read the rest here.
The share of all U.S. privately-owned houses that stood empty fell in the fourth quarter to its lowest since 2006 as the number of houses occupied by renters rose faster than the pace of new vacancies created by homeowners moved out, according to the Commerce Department. There number of housing units occupied by renters rose by 749,000 in the fourth quarter compared to a year earlier; some 91,000 fewer homes were occupied by owners, the data show.
With the fast pace of foreclosures showing no sign of letting up, the U.S. homeownership rate continues to fall. Just 66.0 percent of U.S. homes were occupied by their owners in the fourth quarter of last year – half-a-percentage-point lower than a year earlier. That’s the lowest level of homeownership since the second quarter 1998.
is the blog of an Orthodox Christian and is published under the spiritual patronage of St. John of San Francisco. Topics likely to be discussed include matters relating to Orthodoxy as well as other religious confessions, politics, economics, social issues, current events or anything else which interests me. © 2006-2024
America should have been a nation of renters all along. Get rid of the 30-year mortgage!
ReplyDelete