It was an exciting time for home ownership growth in 1992 as Bill Clinton became our 42nd President. President Clinton PUSHED for homeownership in America! It made sense for America because there would be less public assistance needed because there would be fewer divorces because that's the good thing about owning a home, it provides stability. Statistics supported family formation AND home ownership to stop the drain on financial assitance.
President Clinton knew his numbers.
He knew his facts.
He knew that welfare and other public assistance costs associated with a single parent home would decrease, IF he could get what he wanted...
His goal was that 67% of American households would be home owners!
President Clinton came close to reaching his wishes of American homeownership as the housing industry BOOMED! But it wasn't until June, 2004 when then President #43, George W Bush, reaped the rewards of a fully engaged economy working WITH mortgage rates and home ownership to create a country where...
69.2% of American Households owned a piece of the rock!
Agenda's change, the economy lags, goals for homeownership fall away and twelve years go by and on July 28, 2016 American household home ownership FELL to the lowest level since 1965...
62.9%. :( Boo!
19 months later we now see the percentage of American Households owning their own home increasing, ever so slightly, but increasing every quarter! :) Yay!
As we closed out 2016 and were on the verge of swearing in our 45th President, we now see...
63.24% of American's OWNING!
These are households who are not renting or living with relatives and are enjoying the current home value appreciation of 3-7% annually (depending on the state you live in and/or the neighborhood you live in-YES, the neighborhood in UTAH makes a 3% difference in annual home value appreciation, just ask your Realtor!).
Professional Mortgage Services since 1991
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