Why are Homeownership Rates Low? New Report.
In recognition of National Homeownership Month, NAR has released a new white paper entitled, "Hurdles to Homeownership: Understanding the Barriers," identifying five key hurdles keeping the U.S. homeownership rates stuck at 50-year-low despite low mortgage rates and recovering job markets.
Chief among the challenges illustrated in the report are student loan debt among Millennials, post-Recession negative biases regarding home ownership after many experienced foreclosures and job losses, tight credit standards, low inventory and decreased affordability.
Click here to read the full report, or see NAR's infographic below: