Homeownership Rate

This Is What You Spent Your Entire Pay Raise On

Here's the math: across the nation, the median rent for a two-bedroom apartment is $1,300, according to Apartment List. So a 3.7% rent rise, or about $48, which means that just the official rise in asking rent prices... swallowed the entire salary "gain"of $48 in after tax dollars. Oh and that excludes Obamacare: as the government also reported, medial bills soared, in fact in February, medical care grew at the fastest rate in more than three years.

California Renter Apocalypse

The rise in rents and home prices is adding additional pressure to the bottom line of most California families. In most of the US buying a home may make some sense. In California, the massive drop in the homeownership rate shows a different story. And that story is the middle class is disappearing...

58 Facts About The U.S. Economy From 2015 That Are Almost Too Crazy To Believe

The world didn’t completely fall apart in 2015, but it is undeniable that an immense amount of damage was done to the U.S. economy. So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media.  When you look at the cold, hard numbers, they tell a completely different story.  The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe...

Peak Housing 2.0: Sam Zell Dumps 23,000 Apartments In 2007 Deja Vu

Why is the deal particularly notable? Because Zell has traditionally had a very keen nose about such things as "market peaks": the 74 years old is credited with calling the top of the real-estate market in 2007, when he sold another of his companies, Equity Office Properties Trust, to Blackstone for $23 billion. Soon after, the commercial-property market crashed as prices fell and debt defaults surged when it became apparent that subprime was not contained.

Pending Home Sales Miss, NAR Says Stock Plunge Is Good For Housing Affordability

The biggest surprise in today's NAR release came from the following Larry Yun statement: "Uncertainty in the equity markets — even if the Fed raises short-term rates in September — could stabilize long-term mortgage rates and preserve affordability for buyers." So with China, Larry Summer and the IMF now calling for a rate hike, the NAR - of all entities - is suddenly quite happy to see the recent market rout continue, which would keep rates lower and promote "affordability." Guess nobody tell Larry that China has now started dumping bonds.

7 Million People Haven't Made A Single Student Loan Payment In At Least A Year

How bad is America's $1.3 trillion student loan problem, you ask? As WSJ reports, "nearly seven million Americans have gone at least a year without making a payment on their federal student loans, a staggering level of default that highlights how student debt continues to burden households despite an improving labor market."

US Middle Class Stays Dead: Homeownership Drops To 48 Year Low; Median Asking Rent Soars To All Time High

Earlier today, the US Census released its latest homeownership data, which confirmed that for what is left of America's middle class, owning a home has become virtually impossible, with the homeownership rate plunging from the lowest level since 1986, or 63.7%, to just 63.4% the lowest reading since the first quarter of 1967.  And the punchline, which should come as no surprise to anyone: with housing no longer affordable to most, the median monthly asking rent just rose to a record $803 across the US.