Home Ownership Rates Falling
For four in every ten non-homeowners, home ownership is not looking like part of their American Dream. In a recent poll by the Gallup Organization, 41% of respondents do not see a home purchase in the “foreseeable future.” One reason cited is the weight of student debt, but other factors are in play as well.
This trend, combined with the lowest level of home ownership in the last 15 years (61%), is a reason for concern in the home building industry, as well as other sectors of the economy.
Home ownership is a big economic driver in our economy. What can we do to turn the tide?