HomeSmart - Gilbert
2680 South Val Vista Drive, Suite 101
Gilbert, AZ 85295
2680 South Val Vista Drive, Suite 101
Gilbert, AZ 85295
My Blog
Goal of Owning Home Still Strong Amongst Homeowners
Posted On: July 8th, 2016 2:03PM
Americans still want to own homes — if they can afford to. That's the finding of a report released by the Harvard University Joint Center for Housing Studies.
The pressures of student debt, rising rents and the leftover wreckage from the nearly decade-old housing bust have restrained people's ability to buy, even though the dream remains alive. The report sees reasons for both optimism (more millennials are poised to leave the nest) and concern (rising numbers of renters face extreme costs).
Those factors could determine whether the share of Americans who are renting keeps rising or whether the nation's homeownership rate can rebound from a near 48-year low of 63.5 percent.
