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Old 07-28-2016, 10:04 AM
 
Location: Gulf Coast Texas
28,433 posts, read 15,421,970 times
Reputation: 11364

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Not only are the increasing protests a reminder of how we are going backwards, home ownership levels are at a low level not seen since the mid 1960s.

Homeownership rate falls to lowest on record

U.S. homeownership fell to the lowest rate on record in the second quarter, the Census Bureau reported Thursday.

The homeownership rate fell from 63.5 percent in the first quarter to 62.9 percent in the second, tied for the lowest level since early 1965, when records were first kept.


According to the chart at the link - the high point was around 2004 at around 69%.
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Old 07-28-2016, 10:28 AM
 
Location: SGV
24,760 posts, read 9,640,166 times
Reputation: 9714
Restrictions, taxes, regulations.

It's a full time job owning a home navigating and paying tribute to the overlords unless you live off grid in the spirit of a "tiny home".

Even then you must pay your tribute to your masters but you can at least minimize your interaction with the overlords.
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Old 07-28-2016, 10:30 AM
 
5,267 posts, read 2,699,218 times
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i bought my first house last year (at the age of 27)....its still possible... It is a pain in the A$$ though...no wonder why people just rent...
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Old 07-28-2016, 10:47 AM
 
2,464 posts, read 979,398 times
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It only fell less than a percent, and 62.9 is still high for ownership even if it is the lowest level. I think it is common to see ownership fluctuate in the 60s. Not everyone is in a position to own, and we saw what happened after pushing ownership up to 69 in 2004, a lot of homeowners got screwed when they realized they couldn't afford what they bought.
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Old 07-28-2016, 11:07 AM
 
Location: Londonderry, NH
41,492 posts, read 51,348,324 times
Reputation: 24612
Most people are already carrying too much debt and/or paying too much rent to afford to save for a down payment or afford house payments, taxes and operating costs to afford to buy their own home. One way to relieve the financial burdens on younger people is to eliminate the interest on education loans by Federalizing the system to eliminate any private profit. The loans would be from the Federal government at the current interest rate and paid back by a permanent surcharge on the borrowers income tax.


The result would be more people capable of financing their own homes.
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Old 07-28-2016, 11:08 AM
 
Location: Inland Northwest
596 posts, read 318,970 times
Reputation: 816
High point was 2004? Wonder what happened to make it drop from that ideal level?
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Old 07-28-2016, 11:10 AM
 
Location: The ends DO NOT justify the means!!!
4,783 posts, read 3,164,889 times
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"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

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Old 07-28-2016, 03:23 PM
 
Location: Texas
26,715 posts, read 11,202,975 times
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I know, how about Congress makes a law that forces lenders to lower standards and they can make little to no down payment loans. What could possibly go wrong?
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Old 07-28-2016, 03:25 PM
 
Location: Gulf Coast Texas
28,433 posts, read 15,421,970 times
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Quote:
Originally Posted by ScottPlake View Post
High point was 2004? Wonder what happened to make it drop from that ideal level?
Government incompetence and deceitfulness.

Maybe you are on to something. Maybe home ownership needs to reflect the real ability of people to purchase a home - rather than fooling people into taking out large loans which they cannot afford.
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Old 07-28-2016, 03:25 PM
 
29,359 posts, read 15,414,221 times
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The idea that you never own your home but rent it from the government is unAmerican.
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