{"id":2315,"date":"2018-05-14T10:00:02","date_gmt":"2018-05-14T10:00:02","guid":{"rendered":"https:\/\/thezakariagroup.com\/homeownership-a-man-is-not-a-complete-man-unless-he-owns-a-house\/"},"modified":"2018-05-14T10:00:02","modified_gmt":"2018-05-14T10:00:02","slug":"homeownership-a-man-is-not-a-complete-man-unless-he-owns-a-house","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/homeownership-a-man-is-not-a-complete-man-unless-he-owns-a-house\/","title":{"rendered":"Homeownership: \u201cA Man Is Not a Complete Man, Unless He Owns a House\u201d"},"content":{"rendered":"
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Homeownership: \"A Man Is Not a Complete Man, Unless He Owns a House\" | Simplifying The Market<\/p>\n

The famous quote by Walt Whitman, \u201cA man is not a whole and complete man, unless he owns a house and the ground it stands on<\/em>,\u201d can be used to describe homeownership in America today. The\u00a0Census<\/em>\u00a0revealed<\/a>\u00a0that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year\u2019s 63.6%.<\/span><\/p>\n

Homeownership: \"A Man Is Not a Complete Man, Unless He Owns a House\" | Simplifying The Market<\/a><\/p>\n

Chief Economist,<\/em> Dr. Ralph McLaughlin, in his VUE Blog<\/em><\/a> gave these new homeownership numbers some context:<\/p>\n

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\u201cThe trend is clear: the homeownership rate has been ticking up for five consecutive quarters, and the number of new renter households has fallen for four consecutive quarters. Owner-occupied households grew by 1.345 million from a year ago, while the number of renters actually fell by 286,000 households. <\/em><\/p>\n

The fact that we now have four consecutive quarters where owner households increased while renter households fell is a strong sign households are making a switch from renting to buying. This is a trend that multifamily builders, investors, and landlords should take note of.\u201d <\/em><\/p>\n<\/blockquote>\n

In a separate\u00a0article<\/a>\u00a0comparing the rental population in America to the homeowner population,\u00a0Realtor.com <\/em>also concluded that the gap is now shrinking:<\/p>\n

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\u201cThe U.S. added 1.3 million owner households over the last year and lost 286,000 renter households, the fourth consecutive quarter in which the number of renter households declined from the same quarter a year earlier. That could pose challenges for apartment landlords, who are bracing this year for one of the largest infusions of new rental supply in three decades.\u201d <\/em><\/p>\n<\/blockquote>\n

America\u2019s belief in homeownership was also evidenced in a\u00a0survey<\/a>\u00a0conducted by\u00a0Pew Research.<\/em> They asked consumers \u201cHow important is homeownership to achieving the American Dream?\u201d<\/em><\/p>\n

The results:<\/p>\n