US Homeownership Rate Crashes To Lowest Since 1965

ZeroHedge.com ^ | 28 July 2016 | Tyler Durden

[VanShuyten]

You sound like a candidate for the tiny house movement.

http://www.housebeautiful.com/design-inspiration/house-tours/g2370/tiny-houses/

[dragnet2]

Big homes will incrementally become a thing of the past for most in Middle America. Bank on it.

[MeneMeneTekelUpharsin]

This will affect home/land prices. Not.

[poobear]

Except for our overlords in government😠

[varon]

Pressure from politicians for banks to start lending again to homebuyers who can’t repay the loans.

Something akin to student loans...............

[familyop]

"You sound like a candidate for the tiny house movement."

In a very large county with a very small population in the middle of CO, code enforcement is continuously cruising every road (even private roads) very slowly, looking for tiny houses on wheels to force the removal of anyone who uses one. Houses, greenhouses and even animal shelters require engineering, impact fees and many other costs and complicated regulatory measures before building.

Before buying a tiny house on wheels, look for a county that will allow it first. Most counties are very regulated and will regard a tiny house on wheels as a mobile/RV/Travel trailer (banned). Tiny houses on foundations in such counties are required to be built to residential building codes, and many counties and homeowners' associations have minimum square footage requirements. It can also be difficult to find a property that is not governed by a homeowners' association.

The political class has been striving for at least a couple of decades in rural areas to keep the riffraff out, as they see it. [Riffraff: those who do not have big incomes derived from government or income from businesses supported by government.]

[clearcarbon]

[xzins]

A large part of the problem is bad loans. Another part of the problem is income retrograde. And a final big part is expectations beyond income. The greatest generation were for the most part content with homes under 1400 square feet. The price of 1000 square feet is significantly less than 2000.