After a slight uptick in mobility, fewer people are moving resulting in fewer homes being bought or sold. Foreclosures and short sales are now a household topic of conversation in today’s real estate market continue to stall residential property appreciation. Adding to the sluggish market conditions are new home buyers hoping to purchase finding it difficult due to asking prices relative to pay scales. In many industries, wages have been in decline for the last 5 years. People ages from 33 to 47 are the largest home buyer group accounting for 31% of home sales while people 32 and younger are the second largest group at 28% followed by 18% young boomers and 14% older boomers.
Census data shows more people are falling into poverty which stands at 46.5 million today. William H Frey a demographer at Brookings Institute states “we’re in a selective recovery” sighting the 4th consecutive year, single mom families falling into poverty jumped 41% as a prevail trend of fewer marriages and berths out of wedlock.

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Home Ownership Levels Lower
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