The Obama economy

HomeOwnershipChart.jpg


The Obama economy. The home ownership rate has been plummeting since he entered the White House and is now the lowest it’s been since 1965.

J.P. Travis: Born and raised in Grand Rapids, Michigan, 1976 graduate of University of Michigan, father, grandfather, husband, founder and CEO of Travelyn Publishing (http://www.travelynpublishing.com/), and passionate anti-government believer in individual liberty.

View Comments (7)

  • Not to worry. They will soon fix this by forcing banks to make loans to under motivated people that will never pay the loans back. And this time it will all work differently!

  • I think you will find peak home ownership was associated with the NINJA loans to people who had NO capacity to pay them. The outcome of which was the Sub Prime collapse and resulted in the GFC.

    • It looks like the peak came in 2004 or 2005, and I'm pretty sure the peak in sub-primes was right before the collapse. But I agree, without a doubt, that the two are related. Also interesting that Obama is trying to ramp sub-prime mortgages back up.

      But the most alarming thing is the way the collapse in home ownership seems to be accelerating. Look at that chart. It's like we're falling off a cliff.

      • I can't hang this on Obuttmunch. Homeownership in this country probably should be in the lower 60s where it is now. Think of 10 people you know. Reality is that only 5 of those 10 have the means and the common sense required to own real estate. The extra person owning a home that brings us into the 60 percentile will be the guy that keeps foreclosure market and house flippers in business. That's about right. Any more than that and we're tipping a healthy market on it's ear again.

  • Looks like Step One is accomplished!

    Elimination of ownership of all private property is right on schedule!