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Nar - Homeownership Hurdles

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Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Post-foreclosure stress disorder.

Mortgage availability.

The growing burden of student loan debt.

Single-family housing affordability.

Single-family housing supply shortages.

Rosen added, "A healthy housing market is critical to the overall success of the U.S. economy.

I guess the housing market has yet to recover from the 2008 crash.
 

gregb

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Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
No worries, NAR has things covered. If item one is solved, the other four items will solve themselves. As to post-foreclosure stress disorder, open house agents will be trained therapists, soothing the way into home ownership. Then there will be Lawrence Yun, NAR chief economist, recycling the announcements that the best time to sell or buy is right now. :)
 

J Grant

Elite Member
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Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
or reverse wat Rosen said..." A healthy economy is critical to the success of the US housing market."

While the above is true from your thread as contributing reasons, the continuance of flat wages and little growth in well paying jobs does not expand the possibility of home ownership. Add in higher rents not allowing renters to save enough for a down payment.
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
didn't 102 million non-working, work age adults suggest that anyway?

Yep, the number of working age Americans “not in the labor force” has reached a total of 94.98 million. When you add that total to the number of Americans that are “officially” unemployed (6.86 million), you get a grand total of 101.84 million.

https://www.bls.gov/news.release/empsit.t01.htm

That's a big drag on the economy.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
So how come some opportunist has not put this 100million + people to work building widgets to sell?

Has the world stopped buying widgets?

Has regulation killed the need for widgets?

Have we classified these 100million + people as too stupid to have a job because they don't have a college degree?

Just seems to me that 100million + people who have been freed from jobs they hate simply because those jobs had health insurance benefits, ought to be able to come up with some idea of some widget to make that would better the world and themselves.

Or maybe they lack funds for widget research, development and production.

.
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
2016; 324,118,787 Population

RK, just for S&G; 102 Million not in the workforce or approximately 1/3 of the Entire population. Those numbers reek havoc with the perception that is being touted both politically and via News. Just wondering if you take those who have been slammed by College Debt and you look at the overall ability for purchasing power, you could probably note that 40-60% overall are submerged and have little to no ability to get above the debt existing.

The Housing Industry requires all aspects to be functional, Not dribs & drabs, for the economy to get back on track. Where are the aged Builders, the ones that have built dwellings over the past 30-50 years ? They got involved in other business's; that "Talent" will be hard to find again and when it happens, it will take time to rebuild it, just sayin. A track Record in building doesn't happen in 2 years; IMHO, I would be looking for the guy that has 10+ years in the Industry, it tells me he has the "Experience, Knowledge and Expertise" in dealing with the nature of building / DEP / Inland Wetlands / PZC Compliance and all the other incidentals required.
 
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