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Sponsored by Pillar to Post |
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Is There Hope for the Homeownership Rate? |
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The homeownership rate clung to 63.6 percent in the first quarter of 2017, virtually unchanged from 63.7 percent the quarter prior and 63.5 percent the year prior, according to the U.S. Census Bureau's recent Quarterly Housing Vacancies and Homeownership report. Will it ever budge? The answer, potentially, lies in a different statistic. An analysis of the Census report by Trulia determined that owner households formed at double the rate of renter households in the first quarter—a clue that points to the possibility of a kickstart this year. "Strong renter formation is one of the reasons why the homeownership rate has continued to drop since the onset of the housing crisis, so any sign this trend is reversing is something to take note of," wrote Ralph McLaughlin, chief economist at Trulia. ...
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