The homeownership rate rose to 67.9% in the April-June quarter, up from 65.3% in the first quarter, a record increase, according to a report from the Commerce Department released on Tuesday. That was the highest level since the third quarter of 2008 and was up from 64.1% a year ago. Homeownership increased in all four regions last quarter.
The coronavirus crisis has led companies to allow employees to work from home. The emergence of home offices and schooling has fueled demand for bigger houses in larger spaces in small metro areas, rural markets and large metro suburbs. In terms of age groups, the biggest increase was in households under age 35. That suggests that many millennials who were gearing up to buy homes may have accelerated those plans because of the pandemic, said Taylor Marr, lead economist for Redfin. “The pandemic really caused everyone to re-evaluate their timeline.”
Show us the actual data
Give it a month when the checks run out and millions become homeless.
PostRecession The vulchers are waiting patiently. Agenda2030
That’s what happened right before the last bubble. Many of those people are still caught in debt they will never overcome.
I sold mine in March, thank god. I didn't want to hold my home through this mess we're in.
THANK YOU TRUMP!!!!!!! Trump is Making America Great Again!
thank you donald trump....maga
With WFH set to stay, it only makes sense
How many of those homes were bought by Millennials or Gen Z? How many were third or fourth investment properties for Boomers? How many were bought by foreigners?
So the banks finally sold most of their homes promising ridiculous mortgage payments. Would not be surprised if foreclosures follow.
Economy and interest rates must be pretty good👍🏻
And then...womp womp.
Thank you, Trump.
.....until the foreclosure reports come out next year.
Interesting!
But 30% can’t make rent or housing payments. Seems legit.
Looks like Army housing to me. 🤷♀️
👍
Oh, the govt issued this report? No wonder it smells like 💩💩💩💩.
For whom and does that count multiple houses owned by the same person? Not snark, just a serious question. Mr. Kudlow did speak of a housing boom just a few days ago. Who's buying all those houses?
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