“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.”
The Censusrevealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year’s 63.6%.
Chief Economist,Dr. Ralph McLaughlin, in hisVUE Bloggave these new homeownership numbers some context:
“The trend is clear: the homeownership rate has been ticking up for five consecutive quarters, and the number of new renter households has fallen for four consecutive quarters. Owner-occupied households grew by 1.345 million from a year ago, while the number of renters actually fell by 286,000 households.
The fact that we now have four consecutive quarters where owner households increased while renter households fell is a strong sign households are making a switch from renting to buying. This is a trend that multifamily builders, investors, and landlords should take note of.”
In a separate article comparing the rental population in America to the homeowner population, Realtor.comalso concluded that the gap is now shrinking:
“The U.S. added 1.3 million owner households over the last year and lost 286,000 renter households, the fourth consecutive quarter in which the number of renter households declined from the same quarter a year earlier. That could pose challenges for apartment landlords, who are bracing this year for one of the largest infusions of new rental supply in three decades.”
America’s belief in homeownership was also evidenced in a survey conducted by Pew Research.They asked consumers“How important is homeownership to achieving the American Dream?”
43% said homeownership wasessentialto the American Dream
48% said homeownership wasimportantto the American Dream
Only 9% said it was not important
Homeownership has been, is, and always will be a crucial part of the American Dream.
Author:Andrea Semanko Phone: 360-840-9309 Dated: May 14th 2018 Views: 175 About Andrea: As a northwest native, I have a great understanding of Skagit, Island and Snohomish Counties as to t...
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Making the choice to buy or sell a home is a big decision. It is a fun, stressful, exciting and overwhelming all at the same time. It is my job as your broker to be your guide through the entire process. I have a Bachelors degree in Communication and I believe that effective communication leads to a happy real estate experience. Listening is the number one rule of good communication so I make sure I listen to you. I listen to your wants, needs, questions and concerns and I make sure to understand in order to best serve you. I work hard to coordinate and communicate with all parties involved to insure the process happens smoothly from start to finish. Real estate is my passion and I take great pride in my work and pride in my ability to make your home buying or selling experience a positive one. I look forward to the opportunity to help you.
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