Home Builders And Realtors Should Put On Their Barter Hats
Wednesday, October 31st, 2007New research shows the recent jump in the rate of homeownership was tied largely to loose lending. In short, after three decades of stability, the national rate of homeownership suddenly began rising in the mid-1990s, going from 64% in 1994 to 69% in 2004. But new research published by the Federal Reserve Bank of Atlanta concludes that the bulk of the increase was caused by looser mortgage-lending practices rather than demographic factors such as more households of home-buying age.
That raises an important question: How much of the growth in homeownership is sustainable now that (more…)
