The famous quote by Walt Whitman, “A man is not a whole and complete man, unless he owns a house and the ground it stands on,” can be used to describe homeownership in America today. The Census revealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year’s 63.6%.
Chief Economist, Dr. Ralph McLaughlin, in his VUE Blog gave these new homeownership numbers some context:
In a separate article comparing the rental population in America to the homeowner population, Realtor.com also concluded that the gap is now shrinking:
America’s belief in homeownership was also evidenced in a survey conducted by Pew Research. They asked consumers “How important is homeownership to achieving the American Dream?”
Homeownership has been, is, and always will be a crucial part of the American Dream.
via Simplifying the Market™ https://ift.tt/2wHVsbi