Posts Tagged ‘rental market’

Homeownership Up From 50-Year Low

Posted on August 09, 2017 by Laura Lam

The U.S. homeownership rate climbed in the second quarter, a signal that the sharp downward spiral that began after the housing crash is finally reversing.  The homeownership rate hit 63.7% in the second quarter, the Census Bureau said, a jump of nearly a full percentage point from a year ago, when it touched a 50-year low of 62.9%. The share of Americans who own homes has climbed steadily since then.  The homeownership rate also edged up from the first quarter, when it sat at 63.6%. “The damage the [2007-09] great recession has done to the homeownership rate is likely reversing course,” said…

Boomers Compete With Millennials for Rentals

Posted on July 29, 2015 by Saldutti

The number of renters who are 65 or older will reach 12.2 million by 2030, more than double the level in 2010, according to research by the Urban Institute in Washington. While the millennial generation born after 1980 has driven demand for apartments in recent years, baby boomers — those born from 1946 to 1964 — will be the next wave, pushing up rents and spurring construction of more multifamily housing. Real estate developers are building projects where multiple generations can coexist. Should the supply of rental properties fail to keep up, however, younger people will be competing for housing with…