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New study names root causes for depressed homeownership rate in U.S.

Jun 09, 2017
Despite steadily improving local job markets and historically low mortgage rates, the U.S. homeownership rate is stuck near a 50-year low because of a perverse mix of affordability challenges, student loan debt, tight credit conditions and housing supply shortages. That’s according to findings in a new white paper released in recognition of National Homeownership Month at the National Association of REALTORS Sustainable Homeownership Conference. 

Five main barriers that have prevented a significant number of households from purchasing a home include: post-foreclosure stress disorder; mortgage availability; the growing burden of student loan debt; single-family housing affordability; and single-family household supply shortages. 

Click here to learn more. 
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Empire State home sales stay at elevated level during April

Against the backdrop of fewer homes on the market, homebuyers in New York State closed 8,640 sales during April, falling only 2.6 percent from April 2017. The median sales price growth trend continued, increasing by nearly 12 percent compared to last April to reach $260,000 for the month. Click here to read more.

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