NAR: “Recent residential construction data shows that the size and costs of new homes has moved downward over the past year”
NAR: “The homeownership rate won’t move up from its over 50-year low 2 without a meaningful boost from first-time buyers”
FRED: Homeownership lows 50-year lows.
FRED: 30 & 15 Year Conventional Mortgage Rates decline from 17.5-15 range (1982- present) to 2.74-3.44. Wait so how is that possible? Home ownership is at a 50-year low with borrowing rates at record lows?
More in-depth view of the 30 & 15 Year Conventional Mortgage Rates as Gov’t forces rates lower.
Perhaps the real medium household income of US shows peak prosperity was in 1998-2000 for many Americans. Household income has been in decline for 16 years.