In a new study released by the US Census Bureau, it
was found that home ownership has dropped to 63.4 percent, the lowest it has been since 1967. Some economists attribute it to the real estate market crash of 2008, others blame it on wage growth and mortgage standards failing to keep up with rapidly increasing real estate prices. “We’re still
suffering the effects of the housing collapse and the financial crisis,” said Mark Vitner, senior economist with Wells Fargo Securities in Charlotte.
Demand for rentals is growing, fueling a surge in multifamily construction and sending leasing costs soaring.
Read the full story on Bloomberg.
Posted on 29. Jul, 2015 by Rachel Jefferson in News