The 2nd quarter homeownership rate of householders aged 30 to 34 fell to 47.5 percent, well below the 50 percent threshold and 2.0 percentage points lower than a year ago. Overall, the homeownership rate in the nation as whole was 65.5 percent in the second quarter of 2012, only 0.4 percentage points below the 65.9 percent in the second quarter of 2011.
The homeownership rate of the 30-to-34 age group is the bellwether for the housing industry. Historically, the majority of householders have become homeowners in their early thirties. That is no longer the case as adults in their early thirties--many burdened by student loans--cannot afford to buy a home. In 2011, the annual homeownership rate of the 30-to-34 age group fell below 50 percent (to 48.9 percent) for the first time in the data series, which dates back to 1982.
The homeownership rate of the 30-to-34 age group is the bellwether for the housing industry. Historically, the majority of householders have become homeowners in their early thirties. That is no longer the case as adults in their early thirties--many burdened by student loans--cannot afford to buy a home. In 2011, the annual homeownership rate of the 30-to-34 age group fell below 50 percent (to 48.9 percent) for the first time in the data series, which dates back to 1982.
Every five-year age group ranging from 25-to-29 to 60-to-64 experienced a decline in homeownership between the second quarters of 2011 and 2012. The steepest decline in homeownership occurred in the 35-to-39 age group. The homeownership rate of householders aged 35 to 39 fell 2.9 percentage points between the 2nd quarter of 2011 (60.5 percent) and the 2nd quarter of 2012 (57.6 percent).
Source: Bureau of the Census, Housing Vacancy Survey
Source: Bureau of the Census, Housing Vacancy Survey
No comments:
Post a Comment