Will Homeownership Ever Recover? :MyWayLending.com
Aug 30, 2010
Will Homeownership Ever Recover? :MyWayLending.com.
Over the last 70 years, homeownership was like a runaway freight train, rising from 44% in 1940 to a lofty 69% in 2005. Then the housing crash struck, causing home prices to plummet, and foreclosures to skyrocket. As a result, the rate of homeownership has fallen to a mere 67% and has been predicted to “drop below 62%…if the number of ’strategic defaulters’ who walk away from their underwater mortgages continues to increase. One has to wonder: Will it ever recover?
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