Bill Morris: All the bad news, not so much effect ... yet

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
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Comment balloon 3 commentsBill Morris • February 04 2010 12:12PM


I'm with you on all the bad news-we are not out of the woods but the dream is still alive and there are buyer's out there taking advantage of the great deals.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) over 10 years ago

Good to see the ownership rate has stayed about the same Bill. Unfortunately the real hit has been in the home values, as people are snapping up dropped prices and foreclosures/short sales.

Posted by Christine Hynes, Orange County Senior Loan Consultant (American Capital Corporation) over 10 years ago

What a great buying opportunity we have to offer now!  Unless something changes, it looks like interest rates will begin to increase at about the same time homebuyer tax credits expire, but for the next few months buyer's have a great opportunity to "buy low."

Posted by Bill Morris, ABR, CRS, CDPE, ePRO, MBA (RE/MAX Capital City) over 10 years ago