Tag Archive for ‘homeownership’

Consumer Credit Continues to Expand

The Federal Reserve’s latest G.19 Consumer Credit Report shows rising trends in consumer credit, excluding loans secured by real estate, through November 2019. In November, consumer credit increased at a seasonally adjusted annual rate of 3.6 percent from the previous month, with revolving debt1 decreasing by 2.7 percent and non-revolving debt2 increasing by 5.8 percent. Consumer credit totaled $4.2 trillion… Read More ›

Tracking Lifetime Homeownership Rates

A recent NAHB Special Study uses the National Longitudinal Survey of Youth (NYLS) to study lifetime homeownership rates and how long individuals sustain in homeownership. The study finds a lifetime homeownership rate of 90.5% among the 1979 NLSY cohort, meaning that most people become homeowners at some point in life (Figure 1). This finding is a reminder of the importance… Read More ›

Homeownership Rates by Race and Ethnicity

The Census Bureau recently published data on homeownership rates from its Housing Vacancies and Homeownership Survey (CPS/HVS). A previous NAHB blog shows that the overall homeownership rate increased to 64.8% in the fourth quarter of 2018, up 0.6 percentage points from the fourth quarter of 2017 (64.2%) (Figure 1).  Figure 1 also shows that the overall homeownership rate bottomed out… Read More ›

Consumer Credit Increases in January 2019

On a seasonally adjusted, annual basis, the latest data from the Federal Reserve Board’s G.19 Consumer Credit report show that all non-mortgage consumer credit, increased at 5% in January 2019 from the previous month, of which revolving1 and nonrevolving debt2 increased 2.9% and 5.9%, respectively. As of January 2019, consumer credit totaled $4.0 trillion, $1.1 trillion of which was revolving… Read More ›

Increase in Housing Wealth

Home owners’ equity in real estate improved as home prices continue to increase and mortgage debt expands slowly. Previous analysis of household balance sheets from the 2016 Survey of Consumer Finances (SCF) indicated that the primary residence was the largest asset category on the balance sheets of households in 2016 and it accounted for about one quarter of all assets… Read More ›

Student Loans Crowding Out Home Purchases

Student and auto loans have historically dominated non-mortgage, non-revolving credit, as seen in the Federal Reserve’s G.19 Consumer Credit report. As of the third quarter of 2018, student loan debt totaled $1.6 trillion.  As student-loan debt has historically made up the majority of non-mortgage, non-revolving credit, homeownership is the opportunity cost for its accumulation. In January 2019, as part of its… Read More ›

Millennial Homeownership Rate Rises to 37%

According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 64.4% in the third quarter of 2018, which is not statistically different from its last quarter reading. The national homeownership rate demonstrated stability during a quarter in which housing markets softened due to declining affordability conditions. This follows the rate dropping to a cycle low of… Read More ›

Homeownership Rates by Minority Groups

The homeownership rate for “all minorities” increased to 47.4 percent in the second quarter of 2018, up 0.6 percent from the same time last year (46.8 percent). This increase helped boost the overall homeownership rate to 64.3 percent, also up 0.6 percent from the second quarter of 2017 (Figure 1). A recent NAHB blog covers the overall homeownership rate in… Read More ›

Homeownership Rate Stable at 64%

According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 64.2% in the first quarter 2018, which is statistically no different from its last quarter reading. The rate of homeownership appears to be on a sustainable upward trend after reaching a cycle low of 62.9% in the second quarter of 2016. Compared to the peak of… Read More ›