Homeownership rate lowest in 25 years according to Case-Shiller report
The home ownership rate fell to the lowest level, in twenty-five years and much of it has to do with rising home prices. In the top 20 markets home prices increases were about 5% compared year to year in February, according to the S&P / Case -Shiller home price index.
Home prices continue to rise and outpace both inflation and wage gains,” said David Blitzer, of S&P Dow Jones Indices. “If a complete recovery means new highs all around, we’re not there yet.
Read the complete story about why the homeownership rate is the lowest in 25 years on the CNBC website with video. In another article, Adam Deutsch, Esq. explains how homeowners in New Jersey are impacted by rising home prices, and NJ taxes.
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