Thursday, July 28, 2016

Home Ownership Lowest in 51 Years

Bloomberg, whose boss Michael Bloomberg has just endorsed Hillary Clinton, reports that home ownership is at the lowest level since 1965.  Look at the pathetic spin they try to put on this fairly terrible statistic.
The drop in the homeownership rate this quarter to historical lows isn’t necessarily a bad sign. This is because renter households are growing at a much faster rate than owner households, reflecting growing confidence of those who were most likely impacted by the foreclosure crisis. Still, low inventory and affordability plagues those who do want to buy a home.
Nonsense. People who'd like to be homeowners aren't, they can't afford it. How do you suppose they view today's economy? Positively? Hardly.
Net winner: Trump.