The new tax code limits the deduction of state and local property taxes, as well as income or sales taxes, to a total of $10,000. When the tax reform legislation was put into law at the beginning of
Homeownership The Reports Of My Death Have Been Greatly Exaggerated
The famous quote by Mark Twain in the title of this article can be used to describe homeownership in America today. Last week, the Census revealed that the percentage of homeowners in the country increased for the first time in thirteen years.
A story in the Wall Street Journal gave these new homeownership numbers some context:
“The annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to boost homeownership. This time, what’s driving the market is a shift in favor of owning rather than renting.
‘This is market, market and market…There’s no government incentive program in sight that is having this effect,’ said Susan Wachter, a professor of real estate and finance at the Wharton School at the University of Pennsylvania, ‘This is back to basics.’”
In a separate report comparing the rental population in America to the homeowner population, RentCafé also concluded that the gap is now shrinking.
“Undoubtedly, the recession had a great impact on homeownership…However, it looks like it takes more to discourage Americans from buying a house than that.
As the years go by, it seems more and more certain that the fact that renting has seen a sudden gain in popularity is more a reaction to the economic crisis than a paradigm shift in the Americans’ attitude toward housing.”
America’s belief in homeownership was also evidenced in a recent survey by Pew Research. They asked consumers “How important is homeownership to achieving the American Dream?”
43% said homeownership was essential to the American Dream
48% said homeownership was important to the American Dream
Only 9% said it was not important
Homeownership has been, is and will always be a crucial element of the American Dream.
#HOUSTON #NEXTHOME #REALTOR #iChooseJared
As a full time professional real estate agent & former airline pilot, I pride myself on offering superior personal service before, during and after your transaction. Knowledge, commitment, honesty, ex....
Latest Blog Posts
Texas and its strong business engine seem to be successfully wooing growing numbers of the population to its larger cities such as San Antonio, Dallas, and Fort Worth.According to a recent U.S.
Historically, the real estate industry has been — and continues to be — a bellwether for socio-political changeBY ELIZABETH ANN STRIBLING-KIVLANAs June is National Pride Month, I want to take a
Enlarge San Antonio-based refining company Valero Energy Corp. wants to add hydrogen cyanide to the list of emissions from its Houston refinery. VALERO ENERGY CORP. IN THIS