Let's deal in facts and numbers. It's going to be hard to have recovery with food stamps, unemployment benefits, and poverty.
This is why I think we're going to 1 in 4 houses empty....we're already at 1 in 7 empty. They built 2 million new houses for years, for only 1 million new households.
It's not rocket science.
Builders and homeowners are going under and CRE is even worse, IMO.
They should just bulldoze the empty houses and let the banks and housing pumpers go under.
The American dream of owning a home is still very much alive, but it will be no more than a dream for a growing number of people over the next five years. That's bad news for home builders, who already have big troubles, as June's reports on housing starts, existing-home sales, building permits and unsold-home inventories showed. But it is good news for anyone renting out a home, apartment or condo, or any real-estate investment trust specializing in residential rental properties.
Most U.S. households own the dwelling they live in, and that isn't likely to change. But demographic and economic forces, together with some perversities of government policy, are combining to push the share of ownership back to where it was in the early 1990s. Already, in the wake of the housing bust that brought on the Great Recession, the share of U.S. households owning homes has slid steadily—from 69% at its peak in 2004 to 67.2% in this year's first quarter. And the rate is likely to fall to its 1993-94 level of 64% by 2015.
finance.yahoo.com |
