Does Anyone See Sadness in Recent Housing Figures?
Garnering much less attention than last week’s GDP report were the housing figures.
In particular, we received figures on homeownership, vacancies, housing stock, and a host of other relevant indications on the state of the American housing market.
Perhaps the saddest figure of the bunch is the Homeownership Rate. Often referred to as the American Dream, homeownership appears to be slipping out of reach for many (mostly) Millennials.
Since peaking at 69.2% in 2004, the Homeownership Rate has precipitously declined to a recent low of 63.5%.
[drizzle]
