Rental Apocalypse: US homeownership collapses to 48 year low while rental rates continue to climb.
ByThe latest Census figures show a very dismal situation for the housing market. The US homeownership rate has plunged to a 48 year low and the pipeline for future buyers is simply not materializing. We’ve noted that in places like California the big push in prices has come in the form of big investors, foreign money, and the ever present flipper brigade. Yet this trend is not only a coastal phenomenon. Contrary to stucco box sarcophagus loving boomers, the US does not revolve around Southern California. Big shock, I know. Large metro areas around the nation are following a similar path. The next generation of home buyers are priced out and many are viewing homeownership as a lofty if not impossible goal. Rents continue to rise and thanks to the big buy by large investors over the past few years, inventory has been siphoned off the market and regular families have been left in the lurch. We are quickly becoming a nation of renters…
Rental Apocalypse: US homeownership collapses to 48 year low while rental rates continue to climb.
