Posted on 07/28/2016 1:21:21 PM PDT by GuavaCheesePuff
After rising just over a decade ago to its highest level ever, the nation's home ownership rate fell to match its all-time low and could drop even further in the months to come.
In the second quarter of this year, the rate fell to 62.9 percent, not seasonally adjusted, which is the same as it was in 1965, when the U.S. Census started tracking the metric. During the epic housing boom in the mid-2000s, the rate soared as high as 69.2 percent. That was when politicians touted the so-called "ownership society."
(Excerpt) Read more at nbcnews.com ...
Especially now, since Obamacare will insure that mom and dad die early and leave you the house.
Let’s not forget that when we got the Big ‘O’ in office the phrase ‘renting is the new owning’ (WTF!) was the talking point.
One of my Wife’s lib friends said that to us once - I beat her down and fast: ‘We may pay a mortgage, but it’s less than renting and one day it WILL be paid for.’
Fools abound...
-—I don’t know how they measure home ownership. I don’t know if they consider having a mortgage as being a homeowner, which is vastly different than owning something out right.
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Only a fool will ever “own” their home. I could have paid off my houses 40 years ago, but the tax credit penalty is too much to “own” a home. You are better off borrowing against it over and over again.
Write it off.
I can’t imagine anyone wanting to actually “own” their home.
Get it down to 20k and then borrow against it with such low interest rates. You get the write off and you can bank at least 10% off the market on your home loan. Silliness.
Never never never own your home. Even if you are so insecure as to think that “owning” your home provides security of some sort, think again, the feds will drop kick you like a mule when you are old if they think you “own” anything. Best put it in an SCorp, CCorp or LLC if you are that insecure. But never never never OWN your property.
I am not a lawyer, but I have many many lawyer and banker friends who would all tell you the same thing. The richest people I know OWN nothing.
Oh sure, blame millenials. They’re the ones who caused decades of income stagnation and artificially inflated home prices...
I see where you are coming from, as a strictly monetary calculation you’re right.
But the peace of owning, free and clear, my house is worth far, far more. I do know several “rich” (assets in excess of 1 million) folks who also are debt free.
There are a LOT of things more important than the bottom line and the total in the bank account.
Fregards
It’s the millenials’ fault, not Obama’s. So typical.
I did have one nephew suggest that I might be most helpful by dying discreetly and leaving the pile to my heirs. There's a future for that little feller in politics. I parried by reminding him he's going to be paying my social security and I intend to live to 110.
They're still worthless slackers, of course. Dang kids these days. STAY OFF MY LAWN!
More rent money for me.
The mobility thing is huge, I think. The days of working one or two jobs for your entire career are over for many. I know if I were much younger I’d go where the good jobs are and worry only about putting enough away to buy a place when I retired.
I have given up any hope for Americans to use proper punctuation or grammar.
And sadly a million dollars aint squat today
Please elaborate.
Liberals blame the victims
To each their own; the borrower is the slave of the lender.
Most young people see no point in being tied to a house if they have no children anyway; we traffick immigrants here to offset this trend (and replace the lost generations of children in classrooms as well as bedrooms).
They have little incentive to buy a home if 1) they work McJobs, and 2) they have no intention of breeding anyway. I’ve been married for about 20 years, and if I wasn’t I would shamelessly live in my parents’ home. Jesus did until he was 30...
True. GOP/Dem migration plan has always been toward one direction like that or another.
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