by Anthony B. Sanders
Anthony B. Sanders’ Blog
Federal housing policy often chases homeownership at the desirable alternative to renting, despite the fact that the US stock of rental housing is often superior to many other countries.
The US homeownership rate has fallen all the back to 1965 and the days of LBJ and “The Great Society.”
[…] But why has homeownership fallen since its peak of 69.2% in Q4 of 2004?
Several factors play a role, including HOW the Census Bureau measures homeownership. First, labor force participation has been dropping since the late 1990s, but particularly after 2007. But mortgage originations for purchase and mortgage purchase applications have been falling since 2005.