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Should We Reevaluate The Ideal of Homeownership?

Friday, December 18, 2015

Should national housing policy move beyond its traditional emphasis on homeownership to focus more broadly on "shelter?"  Faith Schwartz, CoreLogic Senior Vice President, presents that alternative in the current issue of The Market Pulse.  She points to recent data from several sources to suggest that such a change could be necessary.

The level of homeownership has been a concern for several years as it has drifted down from its 2006 peak of nearly 70 percent to a current level of 63.6 percent, a 40 year low. Now the National Association of Realtors (NAR) says that the share of first-time homebuyers is at 32 percent, a near 30-year low and the third consecutive year it has declined. Recent gains in home sales have come from repeat buyers, those with dual incomes according to NAR's senior economist Lawrence Yun.

 

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