WHAT ARE THE REAL REASONS PEOPLE AREN’T BUYING?

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If you follow the Motley Fool you know, this guy makes sense!  And few can spell things out so clearly…..

Mortgage rates remain near all-time lows, job prospects are getting better for educated individuals, and ever-increasing rent make buying a house a financially practical choice. So, why is the homeownership rate at its lowest level in 48 years despite these compelling reasons to buy?

The first-time buyer segment can make or break the housing market

 
Just 63.4% of U.S. households own their homes, down from a peak of 69.2% in 2004. During the past year, 123,000 new homeowner-based households were created, a stark contrast to the 1.3 million renter-based households that have formed.
One of the biggest reasons for the low homeownership rate is the lack of first-time homebuyers in the market. In fact, the most recent data shows that only 32% of 2015 purchase transactions come from first-timers, the lowest level in nearly 30 years.

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Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

310-646-7791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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