Homeownership: The Dream is Still Alive

story in the Wall Street Journal gave these new homeownership numbers some context:

“The annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to boost homeownership. This time, what’s driving the market is a shift in favor of owning rather than renting.

‘This is market, market and market…There’s no government incentive program in sight that is having this effect,’ said Susan Wachter, a professor of real estate and finance at the Wharton School at the University of Pennsylvania, ‘This is back to basics.’”

In a separate report comparing the rental population in America to the homeowner population, RentCafé also concluded that the gap is now shrinking.

“Undoubtedly, the recession had a great impact on homeownership…However, it looks like it takes more to discourage Americans from buying a house than that.

As the years go by, it seems more and more certain that the fact that renting has seen a sudden gain in popularity is more a reaction to the economic crisis than a paradigm shift in the Americans’ attitude toward housing.”

America’s belief in homeownership was also evidenced in a recent survey by Pew Research. They asked consumers “How important is homeownership to achieving the American Dream?”

The results:

  • 43% said homeownership was essential to the American Dream
  • 48% said homeownership was important to the American Dream
  • Only 9% said it was not important

Bottom Line

Homeownership has been, is and will always be a crucial element of the American Dream.

Homes Across the Country Are Selling Fast! [INFOGRAPHIC]

days-on-the-market

Adding Value to Your Home

If you’re about to place your home on the market and wondering just what you can do to maximize your asking price, pay attention. There are a number of home improvements you can make that pay significant dividends. Some require a small investment, others a little more. Take a look at the infographic below for some ideas on what you can do to ensure you get the most bang for your buck.Addin value to your home

Made by the talented people over at http://www.renovationkingdom.com.au/

King County launches new data driven website

A brand new website is available for King County data. Get your property tax information, local demographic information and more. Check it out.

Localscape

Home Prices Since the Peak [INFOGRAPHIC]

Home-Prices-Since-The-Peak

All Cash Real Estate Sales By State [infographic]

New York comes in at #1 with 56% of sales in September 2014, being all-cash.

All-Cash RE Sales

‘Boomerang’ Buyers Flying Back [INFOGRAPHIC]

Boomerang-Buyers-InfoGraphic

Existing Home Sales Report From NAR [INFOGRAPHIC]

NAR Existing Home Sale Report 3Q 2013

Sales In Million Plus: Luxury Housing Market Surges

Luxury-Market