Posts Tagged ‘home ownership declining’

Home Ownership at 19 Year Low

Tuesday, July 29th, 2014

Despite the strong sales we’re seeing here in the Portland real estate market and higher than average appreciation rates combined with interest rates still at historical lows, we’re still seeing an overall decline in the U.S. for home ownership and part of that is due to the fact that 1 in 3 Americans currently has some sort of debt in collections.

There are additional contributing factors, like recent college grads having high school loan debt, housing prices climbing and tighter restrictions on lending. I suspect however there is also some growing concern among potential home buyers about the U.S. economy in general causing them to hold off on owning a home.

It really is a shame to see this as owning a home is by far a more financially stable position to be in, the majority of the time, than renting. With renting, you’re just throwing your money away every month adding to someone else’s investment portfolio rather than your own.