Homeownership rate drops to 63.4%, lowest since 1967

[OnePercenter]

Owning a home is NOT the American dream...it is the bankster's dream...that Americans become debt serfs servicing a big mortgage and enriching the banksters. Nice racket.

10000% stupid and liberal of course. We are all in business and we all legitimately want folks to buy our products. As buyers we generally make good buying decisions which explains why we buy far more homes than pet rocks. Do you understand that bankers and pet rock makers have competing dreams while the customer decides whose dream is realized ???

Thanks to the pure beauty of capitalism we don't get ripped off when we buy things because a business has to charge the lowest price possible in the entire world or be driven into bankruptcy by competition.

Welcome to your very first lesson in economics. Feel free to thank me.

You can't live in a pet rock.

 

[OnePercenter]

New buyers have poor credit ratings and shaky job security

In addition the days where real estate is a sure thing investment are gone

Not necessarily. The RE folks I work with aren't seeing poor credit ratings and shaky job security with their clients.

Real estate IS a sure thing IF you know how to do it.

 

[OnePercenter]

I said that I keep up with the decline in home ownership. I said nothing about Vegas. If you want to know about a certain area of the country, the information can be researched on the internet, which I'm sure you have access. It only takes a minute to type in Vegas housing market. Don't be lazy. If you're interested in the decline in home ownership, that too is easily researched. Don't be lazy. You have internet access if you're really interested in the numbers.

You stated:

Yep, I've been following it for over a year now. Very sad. ... FYI - There is NO recovery. As a matter of fact, we're going backwards.

I brought a sector in which nullifies your claim, so you either ignorant, or your handlers hired the wrong person.

View attachment 45933

Prove me wrong.

 

[OnePercenter]

IMO, both should be fined 25% total assets, and the top two floors as well as the board of directors should be jailed.

liberal idiot is a communist who wants to start another depression. one percent refers to his IQ rank

Says the King of Ignorance.

you're a libNazi and taking 25% of bank assets is just one of 1000 things you'd love do, Adolf!!

Fining and jailing criminals is wrong?

If you think you are correct, why don't you make an argument FOR Citi and Chase?

 

[OnePercenter]

This is what Obamabots call an economic recovery

Home ownership rates drop to 63.4 lowest since 1967

actually we would expect it to drop given it had been wildly inflated before the crash by liberal govt programs

And who's fault was that? Citi and Chase?

 

[OnePercenter]

Home ownership was once the best investment for young Americans. You were guaranteed to triple your investment and the value of your home would easily surpass what you put into it

Now, interest rates are low but the value of the homes are stagnant. Renting is not such a bad option

Buying and landlording the property.

 

[Sonny Clark]

I said that I keep up with the decline in home ownership. I said nothing about Vegas. If you want to know about a certain area of the country, the information can be researched on the internet, which I'm sure you have access. It only takes a minute to type in Vegas housing market. Don't be lazy. If you're interested in the decline in home ownership, that too is easily researched. Don't be lazy. You have internet access if you're really interested in the numbers.

You stated:

Yep, I've been following it for over a year now. Very sad. ... FYI - There is NO recovery. As a matter of fact, we're going backwards.

I brought a sector in which nullifies your claim, so you either ignorant, or your handlers hired the wrong person.

Nullifies what claim? You "brought" what sector? Where's the evidence that shows home ownership is NOT in a decline? Are you saying that home ownership has increased since it's peak of 2007? OK, show me where I'm ignorant. What handlers are you talking about? I have NO handlers. Are you on strong meds, or illegal drugs?

You stated: I've been following it for over a year now.

You stated: There is NO recovery.

You stated: we're going backwards.

I brought in the Vegas market which has seen a 50% or more gain in equity over the last two years.

You stated: I have NO handlers. Which makes you ignorant.

So you bought in Vegas. Is that suppose to mean the whole country is experiencing a housing market boom? Yes, there are pockets where the market is doing very well. I said absolutely nothing about pockets of boom. I said, over all, home ownership is down. FYI - Home ownership is way different from pockets where home prices have come back. And, that my friend, makes you ignorant if you don't know the difference between the number of home owners and the pockets where boom is taking place. FYI - Vegas is NOT representative of nationwide home ownership.

 

[Toro]

This is what Obamabots call an economic recovery

Home ownership rates drop to 63.4 lowest since 1967

Yep, I've been following it for over a year now. Very sad. ... FYI - There is NO recovery. As a matter of fact, we're going backwards.

That is not indicative of general economic trends.

What is not indicative? Home ownership? What economic trend?

The broad economic trend. The economy in general. The economy is growing, although it is not going gangbusters.

The total number of houses is rising, it's just rising at a slower rate than houseshold formation. There are a few reasons for this, but a big one is that credit is much harder to come by as banks have tightened lending standards. That is probably slowing economic growth a bit, but a declining rate of home ownership does not mean the economy is declining.

 

[Sonny Clark]

I said that I keep up with the decline in home ownership. I said nothing about Vegas. If you want to know about a certain area of the country, the information can be researched on the internet, which I'm sure you have access. It only takes a minute to type in Vegas housing market. Don't be lazy. If you're interested in the decline in home ownership, that too is easily researched. Don't be lazy. You have internet access if you're really interested in the numbers.

You stated:

Yep, I've been following it for over a year now. Very sad. ... FYI - There is NO recovery. As a matter of fact, we're going backwards.

I brought a sector in which nullifies your claim, so you either ignorant, or your handlers hired the wrong person.

View attachment 45933

Prove me wrong.

PROOF - Home ownership nationwide is below peak levels. Vegas doesn't represent the nation. Pockets of boom is NOT representative of the nation as a whole. Yes, there are areas where home ownership is coming back. But, I was talking about nationwide, not Vegas. Look at the title of this thread. What does it say? It says home ownership id down, and the lowest since 1967. READ !!!!

 

[Sonny Clark]

This is what Obamabots call an economic recovery

Home ownership rates drop to 63.4 lowest since 1967

Yep, I've been following it for over a year now. Very sad. ... FYI - There is NO recovery. As a matter of fact, we're going backwards.

That is not indicative of general economic trends.

What is not indicative? Home ownership? What economic trend?

The broad economic trend. The economy in general. The economy is growing, although it is not going gangbusters.

The total number of houses is rising, it's just rising at a slower rate than houseshold formation. There are a few reasons for this, but a big one is that credit is much harder to come by as banks have tightened lending standards. That is probably slowing economic growth a bit, but a declining rate of home ownership does not mean the economy is declining.

Look at the big picture of our economy. Look at the number receiving some form of government assistance, cities going bankrupt, pension funds in trouble, the type of jobs workers are forced to take if they want to work, the cost of living, government debt, malls closing, retail chains closing stores, less spendable income in the pockets of consumers, the real unemployment numbers, decline in home ownership, lost tax revenue, infrastructure, and health care cost. The economy is in bad shape. We're actually going backwards. Government debt is the only catalyst keeping us afloat. Again, look at the big picture and not just individual pieces.

 

[OnePercenter]

PROOF - Home ownership nationwide is below peak levels. Vegas doesn't represent the nation. Pockets of boom is NOT representative of the nation as a whole. Yes, there are areas where home ownership is coming back. But, I was talking about nationwide, not Vegas. Look at the title of this thread. What does it say? It says home ownership id down, and the lowest since 1967. READ !!!!

So you don't understand, or what's worse, you don't want to understand that the hardest hit areas are the first to recover.

I'll teach you how to be a good real estate investor. Take your zip code and run a 2013-2015 comparables comparison.

 

[Toro]

Look at the big picture of our economy.

The economy is growing. All the indicators are telling us it is growing.

Look at the number receiving some form of government assistance,​

Obama has made it easier to collect social assistance.

cities going bankrupt,​

Decades in the making, from mismanagement and suburban flight. That has little to do with the current economy.

pension funds in trouble,​

Politicians overpromised then did not fund want they promised. That has little to do with the current economy.

the type of jobs workers are forced to take if they want to work,​

A reasonable observation as typical blue collar jobs in manufacturing have been in decline, replaced by lower-wage service jobs. However, higher skilled employees are in demand.

the cost of living,​

Has been muted

government debt,​

We spend too much and aren't taxed enough. That has little to do with the current economy.

malls closing, retail chains closing stores,​

Thank Amazon for that. Malls are dying as consumer tastes shift. Retail capacity grew faster than the economy for 20 years, so there had to be an adjustment.

less spendable income in the pockets of consumers,​

Consumer spending is rising. Disposable income is rising.

the real unemployment numbers,​

The "real" unemployment rate is 5.3%. The U6 rate is not the real rate of unemployment. Employment growth has been mediocre but it still has been growing.

decline in home ownership,​

This is due to structural issues, credit formation and young people tending to want to rent more than in the past. That has little to do with the current economy.

lost tax revenue,​

Tax revenues are at all-time highs

infrastructure,​

This is a political problem, not one indicative of the economy.

and health care cost.​

Health care costs have been rising faster than the economy for four decades. Recent cost increases are due in large part to better, cutting-edge but more expensive treatments to prolong life.

The economy is in bad shape. We're actually going backwards. Government debt is the only catalyst keeping us afloat. Again, look at the big picture and not just individual pieces.​

Very little is going backwards. The economy is in decent shape. Not great shape but not bad shape either. The individual pieces - the data - are the empirical evidence that the economy is growing.

 

[Sonny Clark]

PROOF - Home ownership nationwide is below peak levels. Vegas doesn't represent the nation. Pockets of boom is NOT representative of the nation as a whole. Yes, there are areas where home ownership is coming back. But, I was talking about nationwide, not Vegas. Look at the title of this thread. What does it say? It says home ownership id down, and the lowest since 1967. READ !!!!

So you don't understand, or what's worse, you don't want to understand that the hardest hit areas are the first to recover.

I'll teach you how to be a good real estate investor. Take your zip code and run a 2013-2015 comparables comparison.

What makes you think that I'm interested in real estate investing? And, what makes you think that I don't understand? I have said absolutely nothing about which areas recover first or last. How did that get into the conversation. The post is about home ownership, and not what areas are booming and which are not. Why are you trying to change the topic? You're try to change topic and deflect from home ownership being down. Your real estate investing doesn't interest me at all.

 

[OnePercenter]

What makes you think that I'm interested in real estate investing? And, what makes you think that I don't understand? I have said absolutely nothing about which areas recover first or last. How did that get into the conversation. The post is about home ownership, and not what areas are booming and which are not. Why are you trying to change the topic? You're try to change topic and deflect from home ownership being down. Your real estate investing doesn't interest me at all.

You want to comment about real estate trends relative to the economy, BUT, you don't want to know how to develop your own facts. The ignorant are staying ignorant. WOW!

 

[Sonny Clark]

Look at the big picture of our economy.

The economy is growing. All the indicators are telling us it is growing.

Look at the number receiving some form of government assistance,​

Obama has made it easier to collect social assistance.

cities going bankrupt,​

Decades in the making, from mismanagement and suburban flight. That has little to do with the current economy.

pension funds in trouble,​

Politicians overpromised then did not fund want they promised. That has little to do with the current economy.

the type of jobs workers are forced to take if they want to work,​

A reasonable observation as typical blue collar jobs in manufacturing have been in decline, replaced by lower-wage service jobs. However, higher skilled employees are in demand.

the cost of living,​

Has been muted

government debt,​

We spend too much and aren't taxed enough. That has little to do with the current economy.

malls closing, retail chains closing stores,​

Thank Amazon for that. Malls are dying as consumer tastes shift. Retail capacity grew faster than the economy for 20 years, so there had to be an adjustment.

less spendable income in the pockets of consumers,​

Consumer spending is rising. Disposable income is rising.

the real unemployment numbers,​

The "real" unemployment rate is 5.3%. The U6 rate is not the real rate of unemployment. Employment growth has been mediocre but it still has been growing.

decline in home ownership,​

This is due to structural issues, credit formation and young people tending to want to rent more than in the past. That has little to do with the current economy.

lost tax revenue,​

Tax revenues are at all-time highs

infrastructure,​

This is a political problem, not one indicative of the economy.

and health care cost.​

Health care costs have been rising faster than the economy for four decades. Recent cost increases are due in large part to better, cutting-edge but more expensive treatments to prolong life.

The economy is in bad shape. We're actually going backwards. Government debt is the only catalyst keeping us afloat. Again, look at the big picture and not just individual pieces.​

Very little is going backwards. The economy is in decent shape. Not great shape but not bad shape either. The individual pieces - the data - are the empirical evidence that the economy is growing.

Ok then, where is your data? Show the real wages to cost of living ratio. Show the number of retail stores closed. Show the number on government assistance programs. Show the data that says 50 % of our children are living at or below the poverty line. Show home ownership. Show food prices. Show utility prices. Show rent increases. Show where employers are offering less company paid benefits. Show the increases in the cost of health care. Show the number of unemployed that have given up looking. Show the number of unemployed between the ages of 50 and 65. Show the number of workers working at temporary jobs. Show the number of workers working at part-time jobs. In other words, show the entire picture when you present your data. Thanks.

 

[Sonny Clark]

What makes you think that I'm interested in real estate investing? And, what makes you think that I don't understand? I have said absolutely nothing about which areas recover first or last. How did that get into the conversation. The post is about home ownership, and not what areas are booming and which are not. Why are you trying to change the topic? You're try to change topic and deflect from home ownership being down. Your real estate investing doesn't interest me at all.

You want to comment about real estate trends relative to the economy, BUT, you don't want to know how to develop your own facts. The ignorant are staying ignorant. WOW!

I have said absolutely nothing about real estate trends, nothing. My comment was about the decline in home ownership, period. All of this other BS is your comments, not mine. I simply agreed with the topic of the thread that said home ownership is in decline, nothing more. You're the one that has tried hard to change the subject, not me. I have said nothing about Vegas, real estate, nor anything other than home ownership being in decline. You're fucking ignorant.

 

[Toro]

Ok then, where is your data? Show the real wages to cost of living ratio. Show the number of retail stores closed. Show the number on government assistance programs. Show the data that says 50 % of our children are living at or below the poverty line. Show home ownership. Show food prices. Show utility prices. Show rent increases. Show where employers are offering less company paid benefits. Show the increases in the cost of health care. Show the number of unemployed that have given up looking. Show the number of unemployed between the ages of 50 and 65. Show the number of workers working at temporary jobs. Show the number of workers working at part-time jobs. In other words, show the entire picture when you present your data. Thanks.

Most of the data you are asking for is at the following link.

Federal Reserve Economic Data - FRED - St. Louis Fed

 

[Sonny Clark]

Ok then, where is your data? Show the real wages to cost of living ratio. Show the number of retail stores closed. Show the number on government assistance programs. Show the data that says 50 % of our children are living at or below the poverty line. Show home ownership. Show food prices. Show utility prices. Show rent increases. Show where employers are offering less company paid benefits. Show the increases in the cost of health care. Show the number of unemployed that have given up looking. Show the number of unemployed between the ages of 50 and 65. Show the number of workers working at temporary jobs. Show the number of workers working at part-time jobs. In other words, show the entire picture when you present your data. Thanks.

Most of the data you are asking for is at the following link.

Federal Reserve Economic Data - FRED - St. Louis Fed

You're the one that needs to look at it, not me. You're the one that said that our economy is doing great. I said that it's not doing great. You disputed what I said, so you show where I'm wrong. I look at data every single day. I read the headlines. I know what shape our economy is in. I read about poverty, homelessness, the cost of living, the types of jobs offered, etc.. I don't have to look at a link, I know what the economy is doing. I know what's going on on main Street America. But, obviously, you need to check the data.

 

[OnePercenter]

I have said absolutely nothing about real estate trends, nothing. My comment was about the decline in home ownership, period. All of this other BS is your comments, not mine. I simply agreed with the topic of the thread that said home ownership is in decline, nothing more. You're the one that has tried hard to change the subject, not me. I have said nothing about Vegas, real estate, nor anything other than home ownership being in decline. You're fucking ignorant.

Wouldn't a decline in home ownership be a trend?

 

[OnePercenter]

Ok then, where is your data? Show the real wages to cost of living ratio. Show the number of retail stores closed. Show the number on government assistance programs. Show the data that says 50 % of our children are living at or below the poverty line. Show home ownership. Show food prices. Show utility prices. Show rent increases. Show where employers are offering less company paid benefits. Show the increases in the cost of health care. Show the number of unemployed that have given up looking. Show the number of unemployed between the ages of 50 and 65. Show the number of workers working at temporary jobs. Show the number of workers working at part-time jobs. In other words, show the entire picture when you present your data. Thanks.

Most of the data you are asking for is at the following link.

Federal Reserve Economic Data - FRED - St. Louis Fed

I'm beginning to think Sonny is a brick.