Skip to main content

Homeownership Rate Below Peak Levels. #teamthayer #realestate #housing #market #news #oregon


4-4 Wells Fargo graph 3

The homeownership rate in the United States has been on a steady decline since reaching a peak of 69.2 percent in 2004. The rate fell to a 48-year low of 63.4 percent in the second quarter of 2015 before clawing its way back up to 63.8 percent by the end of the year.
While the homeownership rate is inching its way back upward, it is still below its peak across all age groups—particularly among consumers ages 44 and younger, according to the Wells Fargo 2016 Housing Market Outlook.
For consumers between the ages of 35 and 44, the homeowership rate at the end of 2015 (59 percent) was about 11 percentage points off of its peak of 70 percent from 10 years earlier. For consumers under the age of 35, the homeownership rate at the end of 2015 was about 9 percentage points lower than its peak from 10 years earlier (34 percent compared to 43 percent).
The age group with a homeownership rate at the end of 2015 that was closest to its peak was the 65 and older group, which had a rate of 80 percent at the end of 2015 compared to slightly below 78 percent at the end of 2005.
The dramatic decline in the homeownership rate has coincided with an equally dramatic rise in the number of renter-occupied households over the last 10 to 12 years, according to Wells Fargo.
The number of renter-occupied units, meanwhile, bottomed out at below 34 million in 2004 but has increased every year since. By the end of 2015, there were 42.6 million renter-occupied units in the United States. These two phenomena are unrelated, however, according to Wells Fargo.
“The number of renters would have increased even if the homeownership rate had not declined so sharply and will continue to increase even as the homeownership rate recovers,” the report stated.
Click here to see the complete Wells Fargo 2016 Housing Market Outlook.

Team Thayer  www.teamthayer.com
JUSTIN LEE THAYER

Popular posts from this blog

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread...

First-Time Home Buyer Mortgage Risk Edge Up Team Thayer Real Estate news.

The first-time buyer share in April, May, and June was launched to new highs, supported by improvements in the labor market, riskier mortgage lending, and continuing low mortgage rates. The  American Enterprise Institute (AEI)  International Center on Housing Risk  recently released a  report , finding that first-time buyers account for 58.8 percent of primary owner-occupied home purchase mortgages with a government guarantee, up from 57.2 percent the prior June, according to the Agency First-Time Buyer Mortgage Share Index (FBMSI). The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages reached an estimated 52.9 percent, up from 51.6 percent the prior June, according to the report. In addition, AEI determined that the Agency First-Time Buyer Mortgage Risk Index (FBMRI) stood at a series record of 15.83 percent, and increase of half of a percentage point from the average over the prio...

Understanding the tax advantages and disadvantages of homeownership #realestate #taxadvantage #taxes #housing #market

It’s no secret that some of the major perks of homeownership are the tax write-offs and advantages that follow the purchase. In fact, according to a 2015 survey by the National Association of Realtors, 80% of homebuyers see homeownership as a good investment, and 43% think it’s better than investing in the stock market. Reaping the rewards of mortgage interest and property tax deductions is just one way to think of your home as an investment. But there are even more real estate–related tax advantages and disadvantages that can slip under a new homeowner’s radar. It can be relatively easy to trigger tax liabilities or perks (and then fail to claim them) on that new piece of  Eugene, Or, real estate . This is why it’s essential to touch base with your tax pro before every real estate transaction, no matter how minor a question you may have. Sometimes planning and timing make a major difference in the financial impact of a real estate–related tax; other times, ...