Why a Better Housing Finance Solution Shouldn’t be the Enemy of the Best Solution
But much of the growth in the rental market has come from the single-family housing market, as investors have snapped up homes and turned those properties into rentals, meaning that former homeowners have tried to re-create their experiences. While the homeownership rate is not likely to rise anytime soon, even those people who lose their homes are blog likely to become homeowners again. The aspiration to be a homeowner remains unchanged by the crisis, and most renters would still like to own a home, Duncan said. It is indeed a good time to buy. Home prices are still down considerably, even though they are up from their bottoms. Mortgage-interest rates are still very low despite the recent spike this year.
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economist at JPMorgan Chase & Co . “Now you see few fewer bargain prices in the market and that’s a reason investor demand is coming off its peak.” Investors accounted for about 20 percent of home purchases in June, down from a high of 23 percent in February and the lowest level since September 2012, according to the Campbell/Inside Mortgage Finance survey of real-estate conditions. And they appear poised to reduce purchases further. A recent survey by polling firm ORC International found that about 48 percent of investors surveyed planned to curtail home purchases over the next year, up from 30 percent in a poll conducted 10 months earlier. Only 20 percent expect to buy more homes, down from 39 percent.
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As Housing Market Stays Hot, Investors Seem to Have Cooled
Given enough time, I think we could find ways to address the problems of reduced mortgage access in a fully privatized framework. But Im also pragmatic. Were not designing a system from scratch.
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