Homeownership rate lowest in 25 years

[zeke]

Not if it means giving mortgages to any and everyone that applies

Agree, However, I don't know your political leanings so much. However the person starting this thread is a dyed in the wool right wing idiot. And he/she is complaining about the decline in home ownership rates.

Repubs blame ole Barney for the entire housing mess and the increased home ownership numbers during the Bush administration. Now that rates of ownership are down and a problem, I thought maybe the Rethugs would bring ole Barney out of the closet. You know, so he could increase home ownership rates..

Do you think they will do that?

 

[hortysir]

Not if it means giving mortgages to any and everyone that applies

Agree, However, I don't know your political leanings so much. However the person starting this thread is a dyed in the wool right wing idiot. And he/she is complaining about the decline in home ownership rates.

Repubs blame ole Barney for the entire housing mess and the increased home ownership numbers during the Bush administration. Now that rates of ownership are down and a problem, I thought maybe the Rethugs would bring ole Barney out of the closet. You know, so he could increase home ownership rates..

Do you think they will do that?

I'm a pretty far RWNJ, myself. But it was a perfect storm of lenders, legislators, and lack of oversight that caused the debacle.
There's a lot of blame to go around.

Personally, I blame my own greedy poor judgment for taking out a loan I couldn't afford

 

[Roadrunner]

It's simple.

People are buying houses to re-sale them at a higher rate after some work is done to the house. Buy a 40k house work on it for afew months, and re-sale at 140k.

Hundreds of thousands of people are doing this around the country, and it's a real money maker, I should know.

Spend a little money, put in a lot of elbow grease and some more money, and turn a cheap house into an expensive one of a kind home, sell it to someone, and go buy another one.

Some people are doing this, but, it is mainly corporations, seizing the moment.

Buy cheap, repair, rent it out high as Hell, because most people can't get a loan.

Before long, feds will start lending money to anybody off the streets, they will buy houses, tear them up, get foreclosed, houses will be bought up, repaired, rented out.

It's a cycle; nobody ever learns.

 

[Roadrunner]

Not if it means giving mortgages to any and everyone that applies

Agree, However, I don't know your political leanings so much. However the person starting this thread is a dyed in the wool right wing idiot. And he/she is complaining about the decline in home ownership rates.

Repubs blame ole Barney for the entire housing mess and the increased home ownership numbers during the Bush administration. Now that rates of ownership are down and a problem, I thought maybe the Rethugs would bring ole Barney out of the closet. You know, so he could increase home ownership rates..

Do you think they will do that?

The whole problem is the definition of OWNERSHIP.

Just because one has a huge debt on the house he lives in does not make him a homeowner.

You are a homeowner when you make the last note and have the title free and clear.

That is probably about 20% of Americans.

 

[jknowgood]

So you admit the Bush regime was the problem.

Actually it started with Carter, grew legs under Clinton. Bush warned about it in 2006, was told by Dodd he didn't know what he was talking about. Now Obama has been in office over six years and you don't think Obama deserves any blame? You get the Obama knob polisher of the day.

 

[BlindBoo]

The recent decline in the housing market was preceded by strong growth for over a decade. From the fourth quarter of 1995 to the fourth quarter of 2005, homeownership rates increased from 65.1 percent to 69.0 percent.1 In the 1990s and early 2000s, mortgage originations grew six-fold, from $459 billion in 1990 to $2.9 trillion in 2005. Over this same period, mortgage delinquency rates (around 4.5 percent) and foreclosure rates (around 1.2 percent) remained low between 2000 and 2005.2

After 2005, these patterns reversed, with homeownership rates falling and delinquency and foreclosure rates rising.3 Recent data show homeownership rates fell to 66 percent by the fourth quarter of 2011. Delinquency rates rose to 9.4 percent in 2009 and foreclosure rates rose to 4.6 percent in 2010.

Patterns of homeownership delinquency and foreclosure among youngest baby boomers Beyond the Numbers U.S. Bureau of Labor Statistics

 

[Freewill]

Thank you President Obama. Quite the legacy of dependency and despair.

Homeownership rate lowest in 25 years

Home prices are rising, and homeownership is falling. How can that be?

If prices are rising, it must be because there is increasing demand for homes, but if there is increasing demand, then why are there fewer homeowners?

It has to do with this: math. The homeownership rate in the first quarter of this year fell to 63.7 percent, the lowest since 1990, according to the U.S. Census. The homeownership rate is the ratio of households that own to overall households—the remaining being rental households.

How did Obama cause that?

6 years of failure.

 

[Freewill]

The recent decline in the housing market was preceded by strong growth for over a decade. From the fourth quarter of 1995 to the fourth quarter of 2005, homeownership rates increased from 65.1 percent to 69.0 percent.1 In the 1990s and early 2000s, mortgage originations grew six-fold, from $459 billion in 1990 to $2.9 trillion in 2005. Over this same period, mortgage delinquency rates (around 4.5 percent) and foreclosure rates (around 1.2 percent) remained low between 2000 and 2005.2

After 2005, these patterns reversed, with homeownership rates falling and delinquency and foreclosure rates rising.3 Recent data show homeownership rates fell to 66 percent by the fourth quarter of 2011. Delinquency rates rose to 9.4 percent in 2009 and foreclosure rates rose to 4.6 percent in 2010.

Patterns of homeownership delinquency and foreclosure among youngest baby boomers Beyond the Numbers U.S. Bureau of Labor Statistics

Yep, pretty much when the democrats took over congress, things went into the dumper.

 

[Freewill]

seems only fair that we give them a taste of their own medicine and blame GW Bush for everything negative that's happened during Obama's presidency

Under Bush and because of Bush, foreclosures started, Foreclosures accelerated during the Obama early Presidency. But Obama didn't cause the actions that started the foreclosures.

Banks tightened up on loan standards, consumer credit went to shit because of the foreclosures. Down payments were gone with the losses in investments. Jobs stability (something lenders really like) went to shit, again because of Bush.

So yea, home ownership rates dropped. What the fuck did you right wingers think was gonna happen after the disaster of Bush?

Maybe Obama could expand that most favorite of all government "lending": programs; the CRA.
That'll make the resident right wingers happy. LMAO.
Maybe Barney Frank can be appointed head of Fannie and Freddie.
That'll make the resident right wingers ecstatic.

You are right, the disaster of Bush was the democrats taking over congress in 2006 causing everything to go to crap.

 

[NYcarbineer]

Thank you President Obama. Quite the legacy of dependency and despair.

Homeownership rate lowest in 25 years

Home prices are rising, and homeownership is falling. How can that be?

If prices are rising, it must be because there is increasing demand for homes, but if there is increasing demand, then why are there fewer homeowners?

It has to do with this: math. The homeownership rate in the first quarter of this year fell to 63.7 percent, the lowest since 1990, according to the U.S. Census. The homeownership rate is the ratio of households that own to overall households—the remaining being rental households.

How did Obama cause that?

6 years of failure.

Failure at doing what? Be specific. Provide credible evidence.

 

[NYcarbineer]

seems only fair that we give them a taste of their own medicine and blame GW Bush for everything negative that's happened during Obama's presidency

Under Bush and because of Bush, foreclosures started, Foreclosures accelerated during the Obama early Presidency. But Obama didn't cause the actions that started the foreclosures.

Banks tightened up on loan standards, consumer credit went to shit because of the foreclosures. Down payments were gone with the losses in investments. Jobs stability (something lenders really like) went to shit, again because of Bush.

So yea, home ownership rates dropped. What the fuck did you right wingers think was gonna happen after the disaster of Bush?

Maybe Obama could expand that most favorite of all government "lending": programs; the CRA.
That'll make the resident right wingers happy. LMAO.
Maybe Barney Frank can be appointed head of Fannie and Freddie.
That'll make the resident right wingers ecstatic.

You are right, the disaster of Bush was the democrats taking over congress in 2006 causing everything to go to crap.

What did the Democratic Congress do? Be specific. Provide evidence, point by point.

 

[hortysir]

seems only fair that we give them a taste of their own medicine and blame GW Bush for everything negative that's happened during Obama's presidency

Under Bush and because of Bush, foreclosures started, Foreclosures accelerated during the Obama early Presidency. But Obama didn't cause the actions that started the foreclosures.

Banks tightened up on loan standards, consumer credit went to shit because of the foreclosures. Down payments were gone with the losses in investments. Jobs stability (something lenders really like) went to shit, again because of Bush.

So yea, home ownership rates dropped. What the fuck did you right wingers think was gonna happen after the disaster of Bush?

Maybe Obama could expand that most favorite of all government "lending": programs; the CRA.
That'll make the resident right wingers happy. LMAO.
Maybe Barney Frank can be appointed head of Fannie and Freddie.
That'll make the resident right wingers ecstatic.

You are right, the disaster of Bush was the democrats taking over congress in 2006 causing everything to go to crap.

What did the Democratic Congress do? Be specific. Provide evidence, point by point.

As I said, further back, there's plenty of blame to go around.
The most basic answer to your question lies in what committees Frank and Dodd were heads of.
Speaks to the 'lack of oversight' I mentioned in the same post

 

[Mustang]

Thank you President Obama. Quite the legacy of dependency and despair.

Homeownership rate lowest in 25 years

Home prices are rising, and homeownership is falling. How can that be?

If prices are rising, it must be because there is increasing demand for homes, but if there is increasing demand, then why are there fewer homeowners?

It has to do with this: math. The homeownership rate in the first quarter of this year fell to 63.7 percent, the lowest since 1990, according to the U.S. Census. The homeownership rate is the ratio of households that own to overall households—the remaining being rental households.

Didn't the housing bubble burst while George W. Bush was president?

 

[william the wie]

Frank and Dodd made sure of that.

 

[NYcarbineer]

seems only fair that we give them a taste of their own medicine and blame GW Bush for everything negative that's happened during Obama's presidency

Under Bush and because of Bush, foreclosures started, Foreclosures accelerated during the Obama early Presidency. But Obama didn't cause the actions that started the foreclosures.

Banks tightened up on loan standards, consumer credit went to shit because of the foreclosures. Down payments were gone with the losses in investments. Jobs stability (something lenders really like) went to shit, again because of Bush.

So yea, home ownership rates dropped. What the fuck did you right wingers think was gonna happen after the disaster of Bush?

Maybe Obama could expand that most favorite of all government "lending": programs; the CRA.
That'll make the resident right wingers happy. LMAO.
Maybe Barney Frank can be appointed head of Fannie and Freddie.
That'll make the resident right wingers ecstatic.

You are right, the disaster of Bush was the democrats taking over congress in 2006 causing everything to go to crap.

What did the Democratic Congress do? Be specific. Provide evidence, point by point.

As I said, further back, there's plenty of blame to go around.
The most basic answer to your question lies in what committees Frank and Dodd were heads of.
Speaks to the 'lack of oversight' I mentioned in the same post

How could either be heads of committees when GOPers were in the majority until 2007?

By then the real estate bubble had burst.

 

[hortysir]

seems only fair that we give them a taste of their own medicine and blame GW Bush for everything negative that's happened during Obama's presidency

Under Bush and because of Bush, foreclosures started, Foreclosures accelerated during the Obama early Presidency. But Obama didn't cause the actions that started the foreclosures.

Banks tightened up on loan standards, consumer credit went to shit because of the foreclosures. Down payments were gone with the losses in investments. Jobs stability (something lenders really like) went to shit, again because of Bush.

So yea, home ownership rates dropped. What the fuck did you right wingers think was gonna happen after the disaster of Bush?

Maybe Obama could expand that most favorite of all government "lending": programs; the CRA.
That'll make the resident right wingers happy. LMAO.
Maybe Barney Frank can be appointed head of Fannie and Freddie.
That'll make the resident right wingers ecstatic.

You are right, the disaster of Bush was the democrats taking over congress in 2006 causing everything to go to crap.

What did the Democratic Congress do? Be specific. Provide evidence, point by point.

As I said, further back, there's plenty of blame to go around.
The most basic answer to your question lies in what committees Frank and Dodd were heads of.
Speaks to the 'lack of oversight' I mentioned in the same post

How could either be heads of committees when GOPers were in the majority until 2007?

By then the real estate bubble had burst.

Prior to being chair he was the leading democrat on the committee

 

[Politico]

Thank you President Obama. Quite the legacy of dependency and despair.

Homeownership rate lowest in 25 years

Home prices are rising, and homeownership is falling. How can that be?

If prices are rising, it must be because there is increasing demand for homes, but if there is increasing demand, then why are there fewer homeowners?

It has to do with this: math. The homeownership rate in the first quarter of this year fell to 63.7 percent, the lowest since 1990, according to the U.S. Census. The homeownership rate is the ratio of households that own to overall households—the remaining being rental households.

Didn't the housing bubble burst while George W. Bush was president?

Yes because of deregulation under Clinton.

 

[Freewill]

Thank you President Obama. Quite the legacy of dependency and despair.

Homeownership rate lowest in 25 years

Home prices are rising, and homeownership is falling. How can that be?

If prices are rising, it must be because there is increasing demand for homes, but if there is increasing demand, then why are there fewer homeowners?

It has to do with this: math. The homeownership rate in the first quarter of this year fell to 63.7 percent, the lowest since 1990, according to the U.S. Census. The homeownership rate is the ratio of households that own to overall households—the remaining being rental households.

Didn't the housing bubble burst while George W. Bush was president?

Yes because of deregulation under Clinton.

BLASPHEMER!! Nothing a democrat has ever done, or not done, has resulted in a bad outcome. Thus everything good that happens has to be because of democrats and bad Republican. Just remember that rule and you will never have an argument with a liberal.

An example is the Democrat practice of slavery. Even though the Republicans party was formed to end the democrat party practice of slavery. Although Republicans supported EVERY civil rights act. Some how the side switched, somewhere, for some reason. Because the rule states that good can only be democrat and bad republican. Make sense?

 

[zeke]

Hey free willy, maybe you Repubs could bring back George Bush to head up the efforts to increase home ownership rates.
George did such a nice job last time he headed up that effort. Well except for the banking failures and the home foreclosures.

Freewilly, do you know how to use Google?




Expanding Home Ownership
"This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."

- President George W. Bush, December 16, 2003

The Accomplishments

Increasing Homeownership

• The US homeownership rate reached a record 69.2 percent in the second quarter of 2004. The number of homeowners in the United States reached 73.4 million, the most ever. And for the first time, the majority of minority Americans own their own homes.
• The President set a goal to increase the number of minority homeowners by 5.5 million families by the end of the decade. Through his homeownership challenge, the President called on the private sector to help in this effort. More than two dozen companies and organizations have made commitments to increase minority homeownership - including pledges to provide more than $1.1 trillion in mortgage purchases for minority homebuyers this decade.
• President Bush signed the $200 million-per-year American Dream Downpayment Act which will help approximately 40,000 families each year with their downpayment and closing costs.
• The Administration proposed the Zero-Downpayment Initiative to allow the Federal Housing Administration to insure mortgages for first-time homebuyers without a downpayment. Projections indicate this could generate over 150,000 new homeowners in the first year alone.
• President Bush proposed a new Single Family Affordable Housing Tax Credit to increase the supply of affordable homes.
• The President has proposed to more than double funding for the Self-Help Homeownership Opportunity Program (SHOP), where government and non-profit organizations work closely together to increase homeownership opportunities.
• The President proposed $2.7 billion in USDA home loan guarantees to support rural homeownership and $1.1 billion in direct loans for

 

[Wildman]

Thank the Bush administration for this.

Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., it is always, .Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., Bush's fault.., do you fucking S know what it takes to be a home OWNER ?? thought not !! in order to OWN a home you have to PAY OFF the LOAN, otherwise it belongs to the bankers.

how many liberliars here OWN their home ?