Bill Morris

All the bad news, not so much effect ... yet

I just picked this up from CRS Member Connect and found it very interesting given the pace and tone of news about U.S. housing and homeownership over the past year or so:

U.S. Homeownership Rate Holds Steady
"The U.S. homeownership rate held steady at 67.2 percent at the end of the fourth quarter of 2009, slightly lower than the 67.6 percent rate posted in the third quarter, according to the U.S. Census Bureau."

Of course, the nature of the housing market is that downturns (and tax credits) attract new buyers, even as many other home owners are struggling through short sales and foreclosures, or just accepting smaller net proceeds than they had expected, so it really shouldn't be surprising that almost as many people own homes now as did before the downturn.  Supply, demand, and pricing adjust to keep the market moving.  That's not what many national news stories would leave consumers to believe, however.

We are absolutely not out of the woods nationally, but most analysts remain optimistic about continued gains in 2010, albeit small ones.  Meanwhile, the American dream of homeownership is alive and well!



Bill F. Morris, ABR, CRS, CDPE, e-PRO, MBA
RE/MAX Capital City
Call or Text:       512-785-3345
Toll-Free:           1-800-692-8784, x 162

Your personal referrals are the best measure of my success!

Comment balloon 3 commentsBill Morris • February 04 2010 12:12PM
All the bad news, not so much effect.. yet
I just picked this up from CRS Member Connect and found it very interesting given the pace and tone of news about U. S. housing and homeownership over the past year or so: U. S. Homeownership Rate Holds Steady "The U. S. homeownership rate… more
January Market Update -- Austin and Central Texas
Austin's real estate market remains a significant bright spot among many U. S. metro areas that continue to struggle. I have written many times over the past year about the health of the Austin/Central Texas economy. I have also pointed out that we… more
Mortgage rates at record low.. for now
As I have blogged previously, mortgage interest rates are being held down for now by Fed purchases of mortgage-backed securities. That government-subsidized demand is holding bond prices up, and yields low. The average 30-year mortgage was priced… more
New Short Sale Rules.. Good News?
This article hit the wire yesterday from Reuters: "The U. S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising… more
A couple of great (old) quotes..
"Diligence is the mother of good luck. " -- Benjamin Franklin "Opportunity is missed by most people because it is dressed in overalls and looks like work. " -- Thomas Edison Coming from the… more
I am all for improvement, but..
Austin has long been among the most environmentally conscious, and active, cities in the country. That is part of what makes Austin Austin. An energy audit is required for all resale homes (1-4 family) at the time of sale, and new construction has… more
Thoreau.. thoughts for our business
Some prescriptions are timeless.. "If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours. " Henry David Thoreau more
This is SOOO Austin!
Austin has long been known for extended debates about environmental initiatives and development regulations. In the 80's there were actually new subdivisons where homeowners moved in and discovered that our "anti-growth" city council had… more
Higher mortgage rates on the way?
Those of us inside the real estate and mortgage industries have been conscious of this coming change for several months, but this article appeared today on Wall Street Journal MarketWatch: Investors see mortgage rates rising as Fed wraps up… more
Tax Credit Extension?
Well, a news report this morning said Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan recommend that Congress vote to extend the tax credit for first-time homebuyers beyond the current November 30, 2009 expiration date. Reports over… more