Click here: American nightmare: Home ownership at 48-year low
Click here: Federal Reserve of St. Louis Chart: Homeownership Rate for the United States
Click here: Harvard Joint Center on Housing Studies – Millions of Americans Spend Over 30% of Income for Housing.
Harvard study says, “Just as exits from homeownership have been high, transitions to owning have been low. Tight mortgage credit is one explanation, with essentially no home purchase loans made to applicants with subprime credit scores (below 620) since 2010 and a sharp retreat in lending to applicants with scores of 620–660 compared with the early 2000s. And given that the homeownership rate tends to move in tandem with incomes, the 18 percent drop in real incomes among 25–34 year olds and the 9 percent decline among 35–44 year olds between 2000 and 2014 no doubt played a part as well.”
