Homeownership to decline to back to 1995 levels?

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Submitted by patientlywaiting on October 22, 2007 - 10:35pm

Back to Real Estate news. I'm getting of the non-stop fire news. They should limit it to 1/2 hour update instead of the 24-hour live non-sense.

Yes, I evacuated. But there's no need to be glued to the TV.

*

Here's an interesting article arguing that we may see homeownership rates decline back the 1995 levels of 64.2%. That means that the families who wanted to buy have mostly bought already. The supply of first time buyers is very limited.

Interesting read and the consequences are dire for the housing industry.

http://www.businessweek.com/bwdaily/dnfl...

http://www.frbatlanta.org/invoke.cfm?obj...

‹ Fire... why was it set? Laughing it up on Ben's site ›
Yes very limited first time
Submitted by Arraya on October 22, 2007 - 11:09pm.

Yes very limited first time buyers and a bunch more with dinged up credit that are out of the buyer pool for many years.

I guess we will have to scratch that off of Bush's "record of acheivement". Not much left on that list.

p://www.whitehouse.gov/infocus/achievement/chap7.html