Home Ownership...correct me if Im wrong, but...

[phish420]

Given the fact that our birth rate exceeds (probably far exceeds) our death rate in this country, it would occur to me that year after year, just because of the natural increase in population, more people will be looking for houses....I would like to know if anyone has home ownership rates, and has ANY president (since maybe Hoover) ever had a DECLINE in home ownership.
This seems to be *'s proof that the economy is strong - but just because more millionaires can buy more 2nd, 3rd and 10th houses, and just because there are more people now than 4 years ago (meaning more people need houses)...I find it amazing he can use this stat and get away with it.

[molly]

1. I know that there are record foreclosures and bankruptcies

[AlamoDemoc]

10. Home ownership down by 1 to 2% n/t

[Lefta Dissenter]

2. I believe

bankruptcy rates have also hit a record high. :eyes: bush can be SO selective about the facts he shares!

[phish420]

9. LOL. good point

[trotsky]

3. Coupled with historically low mortgage rates

it should come as no surprise that home ownership is up.

Of course, mortgage rates were low BECAUSE the economy was in a rough patch, and so the Fed was keeping interest rates low.

[PatriotGames]

6. EXACTLY! Low interest rates have enabled more people to buy

a home. Which is a side-effect of a lousy economy.

[msturgis524]

4. It has been at a record year every year

since they started taking the statistic in the 60's

[demnan]

5. A lot of people bought houses this year, including me

and the reason was, the interest rates were low. The Fed is pro-Bush and is keeping those interest rates far lower than they should.

I think a lot of people wanted to buy before the impending doom facing our economy next year.

[Roland99]

7. Record low interest rates make low-end homes more affordable than rent.

Also, more and more sub-prime lenders are out there giving loans to people of dubious credit history.

[Worst Username Ever]

8. It is the rate, not the number of people who own homes.

The number of people who own homes goes up every year, regardless. The RATE, or percentage of the population that owns homes fluctuates.

[phish420]

12. Yeah, that is what I was wondering...

...any stats on this? Just curious...probably too late for Kerry to attack on this issue, but as ammo for those of us still dealing with undecideds...

[spooky3]

11. another factor is immigration--but the real reason for the increase

is the extremely low interest rates. A second reason is that the stock market has done so poorly, that some people are deciding to invest in their homes (real estate) rather than in the stock market. A third reason is that the average age of the population is going up slowly because baby boomers are among the largest groups, and older people can more easily afford homes and be in a position to buy them than 20 year olds.

Bush has done nothing to encourage home ownership. Some of these factors indicate weakness in other parts of the economy or simply population trends.