Homeownership In America Essay

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In previous years homeownership is was what people in the United States showed pride in, up until recent years after the fall in the market economy. The current homeownership in the United States have declined significantly since the years have passed and is now the lowest it has been in decades. Even though the housing market has been improving over the years in the United States, and the increasing homeownership rate is a worthwhile policy goal for America, home ownership still continue to decline. The expectancy for homeownership was predicated to rise up this year, but instead was at its lowest rate it has ever been since Census Bureau began tracking in 1965. In the second quarter, the rate was at 62.9%, a .5% drop from last year’s second quarter.…show more content…
In 2012 when the economy began to get better and the housing market began to rise, cities such as Boulder, Colorado 45% and Dallas, Texas 26% above peaks in 2006. Homeownership is now competitive in the market with most people willing to bid $10,000 over the asking price. Even with some strong points in the housing market people think that the increasing homeownership is not a worthwhile policy goal for America. The increasing homeownership rate in the United States is a worthwhile policy goal. The housing economy creates jobs for American citizens as well as brings down the competitive qualities to purchasing a home allowing more middleclass citizens to spend money on houses. In doing so this drives the overall economy up in the United States. In conclusion, homeownership in the United States have decline over the past years even being the lowest it has ever been, but has had an improving and strong market beginning in 2012 after a 27% decline from the 2006 peak, and the increasing homeownership rate is a worthwhile policy to allow the United State economy to
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