US Homeownership Hits Lowest Point In A Generation

U.S. Homeownership Rate Hits 20-Year Low

 

 

 

” The homeownership rate in the United States dropped to a 20-year low of 64.5 percent in 2014, according to new data released by the Census Bureau.

  The homeownership rate is the percentage of households that own the home in which they live. “It is computed,” says the Census Bureau, “by dividing the number of households that are owners by the total number of occupied households.”

  The last time the annual homeownership rate was lower than 64.5 percent was in 1994, when it was 64.0%, according to Table 15 in the Census Bureau’s “Housing Vacancies and Homeownership” data.”

 

 

   That “Change We Can Believe In © ” just keeps on giving … continue reading  , but to be honest this is more a reflection of a market correction back towards the sanity of less “free money” demanded of the banks by Statist programs designed to allow unqualified people to borrow so maybe it’s an inadvertent good thing .

 

 

 

 

 

 

 

 

 

 

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From Pentagon Aide To Homeless

From The Pentagon To Life In A Van

 

 

” After a 30-year military career in which he earned three graduate degrees, rose to the rank of colonel, and served as an aide to Pentagon brass, Robert Freniere can guess what people might say when they learn he’s unemployed and lives out of his van:

Why doesn’t this guy get a job as a janitor?

Freniere answers his own question: “Well, I’ve tried that.”

  Freniere, 59, says that his plea for help, to a janitor he once praised when the man was mopping the floors of his Washington office, went unfulfilled. So have dozens of job applications, he says, the ones he has filled out six hours a day, day after day, on public library computers.

  So Freniere, a man who braved multiple combat zones and was hailed as “a leading light” by an admiral, is now fighting a new battle: homelessness.”

Continued …

 

 

 

 

 

 

 

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Homeownership Rate Continues To Plunge … Worst Since Mid 90’s

U.S. Homeownership Rate Falls to Lowest Since 1995

 

 

 

 

” The U.S. homeownership rate fell to the lowest in almost 18 years, reflecting rising demand for rentals and investor purchases in the housing market.

The share of Americans who own their homes was 65 percent in the first quarter, down from 65.4 percent a year earlier and the lowest level since the third quarter of 1995, the Census Bureau reported today. The vacancy rate for rented homes dropped to 8.6 percent from 8.8 percent a year earlier, while vacancies for owner-occupied houses fell to 2.1 percent from 2.2 percent.”

 

 

 

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Related articles

• Familiar Tune: Homeownership Falls to 1995 Levels (blogs.wsj.com)
• U.S. homeownership rate falls to lowest level since 1995; Portland among tightest rental markets (oregonlive.com)
• Homeownership Hits 17-year Low (mortgagenewsdaily.com)
• Why America Might Become A Nation Of Renters Yet (businessinsider.com)
• Do Rising Rents Complicate Inflation Assessment? (ritholtz.com)
• The American Dream Is Shifting Away From Home Ownership (businessinsider.com)

 

 

 

 

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The “Nerd Prom” Says What Recession ? Pass The Wagyu

Joblessness? Deficits? Wars? Let’s Party!

 

 

” Washington never looks more out of touch than it will this weekend, when movie stars, music moguls, media mavens and their advertisers join President Obama at the annual White House Correspondents’ Association dinner.”

 

 

 

 

” As we say in Washington, the dinner is “lousy optics” – rarely more so than Saturday night, when the backdrop will be joblessness, a budget deficit, the Boston Marathon bombing and a blood-red line in Syria.”

 

 

  While we were unable to locate the guest list and menu for the 2013 affair , we did come across both for last year . This should give the reader some idea of the sacrifice the first family is enduring for you .

 

 

The 2012 Guest List:

 

    The guest list seems to be lacking in actual journalists , doesn’t it ? Then again , the MSM is lacking in actual journalists as well .

 

 

The 2012 Menu :

 

” The White House Correspondents’ Association Dinner menu is a selection of four courses, chosen by the board out of a total of nine. Here is the planned menu:

Salad: Black lentil terrine with lump crabmeat; tango green and red artisan greens; red and yellow tear drop tomatoes, paired with a dill vinaigrette. 

Break presentation: Seven-grain rolls; white and wheat rolls; sourdough rolls; flatbreads and butter.

Entree: Texas-rubbed petite filet with a calvados demi, paired with duo of jump shrimp seasoned with red curry, roasted haricot verts, baby pepper, patty pan squash, tasso mache choux risotto.

Dessert: The Galaxy–rich chocolate truffle mousse layered with chocolate genoise and almond macaroon; ganache truffle center finished in chocolate glaze, garnished with fresh raspberries.

Freshly brewed regular and decaf coffee: A variety of regular and herbal teas.

Wines: Estancia chardonnay and Cabernet Sauvignon.”

 

As you can see things are tough all over . His Highness feels your pain .

 

 

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Homeless In NYC

New York City Leads Jump in Homeless

 

 

 

” More than 21,000 children—an unprecedented 1% of the city’s youth—slept each night in a city shelter in January, an increase of 22% in the past year, the report said, while homeless families now spend more than a year in a shelter, on average, for the first time since 1987. In January, an average of 11,984 homeless families slept in shelters each night, a rise of 18% from a year earlier

“New York is facing a homeless crisis worse than any time since the Great Depression,” said Mary Brosnahan, president of the Coalition for the Homeless.”

 

 

See also :

 

Inside City Shelters, Looking for Ways Out

 

 

 

 

 

Related articles

• New York’s Homelessness Worst Since The Great Depression (zerohedge.com)
• NYC Smashes Homelessness Record (breitbart.com)
• Homeless Shelter Population Reaches Record 50,000 (nbcnewyork.com)
• New York’s Homelessness Worst Since The Great Depression (rvnewstoday.com)

 

 

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Change …. For the Worse

  The Hill
No real surprise here until you get to the end .

” Two-thirds of likely voters say President Obama has kept his 2008 campaign promise to change
America — but it’s changed for the worse, according to a sizable majority.

   A new poll for The Hill found 56 percent of likely voters believe Obama’s first term has transformed the nation in a negative way, compared to 35 percent who believe the country has changed for the better under his leadership. ”

   What is difficult to fathom is the fact that 35 percent believe we have changed for the better .

Where do these people live ?

“Hope and Change”…Still? Looking Back at 4 Years of “Change”

Can we really stand another 4 years of this ?

HT/Moonbattery

Let’s Hear it For Recovery Summer v.2012

 Who said Obama has no accomplishments ? Labor force participation hits a 30 year low . If you are feeling confident because the unemployment rate is slowly falling , don’t be . More people aren’t finding work . More people are ceasing to look for work . 

From Zero Hedge

People Not In Labor Force Soar By 522,000, Labor Force Participation Rate Lowest Since 1981

From the comments :

” Interesting.

Now the comparative years are startng to slide back. All comparisons were to 2005 and 2000 and 1995…..suddenly, we are in 1981 territory?

At this rate of reverse acceleration, we should be at war shortly and then back in the warm arms of Great Depression comparisons within a few weeks?

What goes up must come down…nah, that’s old ways of thinking…. new math, new rules don’t allow for such logic.

What is pushed up can be kept up is the new mantra.”

ori