AUBREY COHEN
SEATTLEPI.COM
October 7, 2011
When the dust settled from the housing boom and bust of the 2000s, the percentage of Americans owning a home had suffered the biggest drop since the Great Depression, the Census Bureau reported Thursday.
This nationwide trend, reflected less dramatically in Washington and Seattle, leads to a question: Has home ownership peaked?
“Absolutely,” answered Matthew Gardner, a Seattle land-use economist who works with developers.
People are looking at housing differently, said Patrick Newport, U.S. economist for the analysis firm IHS Global Insight.
“The changes now taking place are mind-boggling: the housing market has completely crashed and attitudes toward housing are shifting from owning to renting,” he said. “While 10 years ago owning a home was the American Dream, I’m not sure a lot of people still think that way.”
Before getting to the reasons for this, let’s look at the numbers.
One Response to “Home ownership suffers biggest drop since Great Depression”
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the “reasons” are treasons, simple as that.
all the jobs going overseas often with government grant money we’re handed the bill for..
jobs that are part time minimum wage so they dont have to pay any benefits.
“credit default swaps” where they profit from “betting” you’ll go bankrupt..
when they can completely engineer it so you WILL fail.. oh yeah thats “gambling”..
they’ll sell a home at premium price not telling you they loaned businesses money to leave town next year. who cares if you moved 1000 miles to try to earn some fuggen money, right?
-and that’s just barely scratching the surface of all thats going on..