American nightmare: Home ownership at 48-year low: Home ownership is at a 48-year low, driven in part by a shocking pattern of foreclosure that put 9.4 million out of their homes during the recent recession, according to a Harvard survey.
In its State of the Nation's Housing 2016, Harvard said that the U.S. homeownership rate has tumbled to its lowest level in nearly a half-century.
Figures from the St. Louis Fed showed a homeownership rate of 63.5 percent. The last time it was lower was in 1967.
The Harvard Joint Center on Housing Studies report put a focus on foreclosures.
A critical but often overlooked factor is the role of foreclosures in depleting the ranks of homeowners. Indeed, CoreLogic estimates that more than 9.4 million homes (the majority owner-occupied) were forfeited through foreclosures, short sales, and deeds-in-lieu of foreclosure from the start of the housing crash in 2007 through 2015, said the report.
Truenews to keep your freedom!Get out of the dinosaur dying lying mainstream media!Tired of being lied to and deceived yet?Here is a fresh source of news and information to help you sort through the fog of deception that is constantly put out!We all know that the media and politicians had been bought and paid for a long time ago!They keep telling us things are getting better and they are going to fix it,but we all know in our hearts that this is just another lie!Sooner we wake up the better!
The System works because you work!
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