Does This Look Like A Housing Recovery To You?

We just learned that the homeownership rate in the United States has fallen to the lowest level in 19 years. But of course this is not a new trend. As you will see in this article, the homeownership rate in the United States has been in a continual decline for more than 7 years.

Mortgage Originations Down By 60-70%…..But Everything Is OK!

Mortgage originations for the first quarter of this year fell off a cliff.  JPMorgan reported a decline of 71 percent, as I recall, and I think Citibank reported a drop of 66 percent.  Now, the second quarter’s bloodletting has come in and the numbers are about the same… down more than 60 percent year-over-year, if memory serves and it often does.

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