The homeownership rate has taken a serious hit nationally and throughout the Midwest, but has stayed relatively steady in the Chicago area, Census numbers show. After hitting a high of 69.2 percent in Q2 2004, and again in Q4 2004, the U.S. homeownership rate is now 2 points lower at 67.2. The Midwest region has [...]
Tag Archives | Homeownership
CoreLogic: Effective homeownership rate 10% lower
CoreLogic suggests an alternate measure of homeownership in its recent negative equity report: An alternative definition of homeownership is to exclude owners with negative equity, which nets the effective homeownership rate (Figure 5). Adjusting for severe negative equity of 25 percent or more reveals that the effective homeownership rate as of Q3 was 62.4 percent [...]
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