While the uptick in homeownership is nowhere near pre-recession levels, it marks a significant shift from a decade ago, when an unstable job market kept most consumers from even contemplating the purchase of a home.
Rates have remained reasonably low, so affordability is possible as well.” “If you look at some of the fintech companies using data science to underwrite people, they are finding people who are very good risks to lend to that they’re starting to bring into the market.”–Richard K. Green Buying Becomes More Attractive as Rents Rise As the saying goes in real estate, it’s all about location.
Rising rents, especially along the coasts, “is really shifting the trade-off between owning versus renting,” Keys said.
After watching your rent go up and up and up, and potentially bouncing around to look for more affordable rental units, at some point you realize it actually makes sense to buy.” But Sussman points out that money is still a barrier to home buying.
It’s likely to remain low as we look forward in the next decade or two.” “After watching your rent go up and up and up, and potentially bouncing around to look for more affordable rental units, at some point you realize it actually makes sense to buy.”–Benjamin Keys It All Comes Back to Supply and Demand Supply and demand is driving up the prices for both renting and purchasing homes.
That generation has a homeownership rate of 80%, and they are staying in place as they age.
These older Americans are renting out their homes or passing them along to the next generations while they move into apartments.
“The biggest change, in many ways, has been toward carefully underwriting the ability to repay.
“It’s possible we’ll have a whole new platform that will allow less traditional kinds of borrowers to get approved for loans,” he said.
“If the marriage rate stays depressed, then I think the homeownership rate will stay depressed.