Monday, August 15, 2016
Homeownership at a 50-Year Low
Since 2006, the rate of homeownership has slowly fallen to what the U.S. Census Bureau now calls a 50-year low; most American families aren’t buying homes, but they’re still focusing their sights on single-family residences. What this means is the rate of single-family renters has rapidly increased over the last decade and is projected to continue to do so until plateauing eventually in 2018.
This is good news for those investors in single-family rentals! Several institutional investors took advantage of the situation and actually bought foreclosed single-family properties in bulk. They then renovated the “flip houses” and took them to the market, renting them out to meet the existing demand! But still the investors only make up a small portion of all single-family home sales. According to HomeUnion director of research Steve Hovland, institutional investors only accounted for 2.6% of all single-family home sales in the first quarter of 2016, substantially lower than the fourth quarter of 2015 at 4.0%.
If you want to read the full article, click here: http://www.orionprop.com/topfive/plummeting-homeownership-rate-good-news-for-investors-in-single-family-homes/
Was this article useful in your world? Are you thinking of investing in single-family properties, or about expanding your real estate portfolio in general? Contact PCG National Manufactured Housing Group at 520.220.5757 or PCGKWCommercial@gmail.com or visit our website at www.petersoncommercialgroup.com