It’s well known that the homeownership rate is at a low point owing to a number of factors including demographic shift, the effect of QM on mortgage lending, student loan debt, and tightened credit.
But looking deeper, as Bank of America and ZeroHedge have, it may be worse. Much, much worse.
What however not at all known, is that just like the unemployment rate's major methodological revision several decades ago, so too the homeownership calculation has been "adjusted" in recent years with the consequence of making it appear better than it is.
Read more...The U.S. homeownership rate is much worse than you think | 2015-03-09 | HousingWire
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