Eventually, and sooner rather than later, even the news won’t be able to continue whitewashing the fact that America is in serious decline.
Home prices are rising, and homeownership is falling. How can that be?
If prices are rising, it must be because there is increasing demand for homes, but if there is increasing demand, then why are there fewer homeowners?
It has to do with this: math. The homeownership rate in the first quarter of this year fell to 63.7 percent, the lowest since 1990, according to the U.S. Census. The homeownership rate is the ratio of households that own to overall households—the remaining being rental households. Continue reading →