Homeownership rate drops to 63.4%, lowest since 1967

[Dont Taz Me Bro]

Nevada gaming revenue is down 8% this year, over 16% on the Strip

Baccarat results send state Strip gaming revenue downward Las Vegas Review-Journal

 

[Sonny Clark]

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?

YES

 

[Toro]

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.

I didn't say the economy was doing great. I said it was doing fine. That's what the data is saying. Check the link.

 

[gipper]

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.

I own five homes. All cash. How is that the 'bankers dream?'

Most absurd.

You think your experience is representative of home owners in America. No. You maybe represent .1% of home owners. The vast majority of home owners labor under a mortgage which most will never pay off.

My point is claiming the American Dream includes owning your own home, is propaganda promoted by the banksters and real estate agents...and of course government likes it too.

 

[Politico]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

Let me guess. They probably love those retarded Millennnial tiny homes too.

 

[Mac1958]

This economy is weak, uneven and unstable.

Blame it on the nature of the Meltdown, blame it on the current administration, blame it on some combination therein (which is pretty much where I am), but the lower unemployment rate is damn near irrelevant. This whole "recovery" has lacked dynamism and pop, and worse, we're relatively late in the cycle.

Business has to pay extremely close attention to politics, and I guarantee you it sees that with Obama's administration, we have officially turned the corner towards a slower, less dynamic (both good and bad) social democratic model.

It's going to take some time to re-adjust, and that's what we're seeing.

.

 

[Bonzi]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

That is totally true MG - renting is not longer viewed as "throwing away money"....
People realize they can live in luxury with no responsibilities for upkeep.... and still save some money.
I much preferred Renting to Home Ownership!
I'm not an Obama supporter, but, I'm not entirely sure this is indicative of our economy (I'm not saying it's not)... I'm just saying there are other factors.....

Another thing, people can afford homes, they just are not disciplined about putting away the money required for a down payment for a home.....

 

[rightwinger]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

That is totally true MG - renting is not longer viewed as "throwing away money"....
People realize they can live in luxury with no responsibilities for upkeep.... and still save some money.
I much preferred Renting to Home Ownership!
I'm not an Obama supporter, but, I'm not entirely sure this is indicative of our economy (I'm not saying it's not)... I'm just saying there are other factors.....

Another thing, people can afford homes, they just are not disciplined about putting away the money required for a down payment for a home.....

My parents made over ten times what they paid for their house over 30 years
I have doubled what I paid for my house in 30 years

There is no assurance that my kids would even break even on a house

 

[Bonzi]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

That is totally true MG - renting is not longer viewed as "throwing away money"....
People realize they can live in luxury with no responsibilities for upkeep.... and still save some money.
I much preferred Renting to Home Ownership!
I'm not an Obama supporter, but, I'm not entirely sure this is indicative of our economy (I'm not saying it's not)... I'm just saying there are other factors.....

Another thing, people can afford homes, they just are not disciplined about putting away the money required for a down payment for a home.....

My parents made over ten times what they paid for their house over 30 years
I have doubled what I paid for my house in 30 years

There is no assurance that my kids would even break even on a house

That's an indisputable truth. I don't see housing increasing in value like it has in the past.
Granted.

 

[ChrisL]

Homes are OUTRAGEOUS around here. A quarter of a million dollars for a modest home you will pay depending on the township you live in. The reason why we have so many renters around here is because home ownership is out of reach for a lot of people.

 

[Moonglow]

Homes are OUTRAGEOUS around here. A quarter of a million dollars for a modest home you will pay depending on the township you live in. The reason why we have so many renters around here is because home ownership is out of reach for a lot of people.

Yeah I know, I wanted to work for Raytheon, but couldn't afford decent housing...

 

[Moonglow]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

That is totally true MG - renting is not longer viewed as "throwing away money"....
People realize they can live in luxury with no responsibilities for upkeep.... and still save some money.
I much preferred Renting to Home Ownership!
I'm not an Obama supporter, but, I'm not entirely sure this is indicative of our economy (I'm not saying it's not)... I'm just saying there are other factors.....

Another thing, people can afford homes, they just are not disciplined about putting away the money required for a down payment for a home.....

My parents made over ten times what they paid for their house over 30 years
I have doubled what I paid for my house in 30 years

There is no assurance that my kids would even break even on a house

In 1965 you could buy a new ranch style home for 9k and in 12 years it was worth double, not so in today's market..

 

[Moonglow]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

That is totally true MG - renting is not longer viewed as "throwing away money"....
People realize they can live in luxury with no responsibilities for upkeep.... and still save some money.
I much preferred Renting to Home Ownership!
I'm not an Obama supporter, but, I'm not entirely sure this is indicative of our economy (I'm not saying it's not)... I'm just saying there are other factors.....

Another thing, people can afford homes, they just are not disciplined about putting away the money required for a down payment for a home.....

There have been many times I wish I had rented, especially when a heater or air unit goes out, to replace my well pump it was 4k..I had to replace it after the idiot that drilled the well put in a weaker system than I needed and I paid him 9k for it...

 

[ChrisL]

One of the Newport mansions just recently sold for . . . $15 MILLION DOLLARS!! Can you imagine? I can't. Lol.

 

[Iceweasel]

They should break down the demographics by age. A lot of younger people aren't into owning and maintaining a home. Partly because they don't know how to and aren't really interested in learning.

Where is your evidence of that?

I heard it from many and experienced it myself. I do it for a living so encounter it on a regular basis.

 

[rightwinger]

My kids are not interested in buying homes, they'd rather rent, more freedom...they are not tied down, and there is times I wished I rented..

That is totally true MG - renting is not longer viewed as "throwing away money"....
People realize they can live in luxury with no responsibilities for upkeep.... and still save some money.
I much preferred Renting to Home Ownership!
I'm not an Obama supporter, but, I'm not entirely sure this is indicative of our economy (I'm not saying it's not)... I'm just saying there are other factors.....

Another thing, people can afford homes, they just are not disciplined about putting away the money required for a down payment for a home.....

My parents made over ten times what they paid for their house over 30 years
I have doubled what I paid for my house in 30 years

There is no assurance that my kids would even break even on a house

In 1965 you could buy a new ranch style home for 9k and in 12 years it was worth double, not so in today's market..

My parents bought their house in 1965 for $19,000 and it eventually sold for $230,000

That was my model for real estate being the best investment. I have not done nearly as well in the 30 years I have owned my house

My kids can look at people who paid $350,000 for a house nine years ago and now can't sell it because it is only worth $275,000 today

 

[ChrisL]

I figured it just isn't worth it to me. Not only is there the cost of the home, but the costs of maintaining it . . . also very expensive, and let's not forget about the taxes. A "regular" person really cannot afford to be a homeowner in my area. I suppose if you wanted to live in one of the crappier neighborhoods, you could make it work on an average salary. Also, probably if you bought a rental property and rented out apartments you might be able to afford it.

 

[Bonzi]

I figured it just isn't worth it to me. Not only is there the cost of the home, but the costs of maintaining it . . . also very expensive, and let's not forget about the taxes. A "regular" person really cannot afford to be a homeowner in my area. I suppose if you wanted to live in one of the crappier neighborhoods, you could make it work on an average salary. Also, probably if you bought a rental property and rented out apartments you might be able to afford it.

Unless you get a great tax write off, it's not worth it.

 

[ChrisL]

I figured it just isn't worth it to me. Not only is there the cost of the home, but the costs of maintaining it . . . also very expensive, and let's not forget about the taxes. A "regular" person really cannot afford to be a homeowner in my area. I suppose if you wanted to live in one of the crappier neighborhoods, you could make it work on an average salary. Also, probably if you bought a rental property and rented out apartments you might be able to afford it.

Unless you get a great tax write off, it's not worth it.

Yeah, I think landlords get a lot more tax breaks too. If I was to buy a home, it would definitely be a rental property, but that is probably not going to happen anyways. Lol.

 

[Iceweasel]

I figured it just isn't worth it to me. Not only is there the cost of the home, but the costs of maintaining it . . . also very expensive, and let's not forget about the taxes. A "regular" person really cannot afford to be a homeowner in my area. I suppose if you wanted to live in one of the crappier neighborhoods, you could make it work on an average salary. Also, probably if you bought a rental property and rented out apartments you might be able to afford it.

Unless you get a great tax write off, it's not worth it.

Why make somebody else's mortgage payment? Unless things have changed drastically you can buy for a little more than renting. Yes, there are additional expenses but I payed my mortgage off 20 years ahead of schedule, saved a bundle on the principle and now live debt free. I have property taxes and utilities but where can I live for free?