There’s been many crests and falls in homeownership throughout the history of the United States. We’ve seen vast expansions and cataclysmic crashes.
Homeownership was at historically stable levels at the start of 2000 right around 64%.
It peaked out at almost 70% during 2004. It has now been slashed down 65.1% in the latest numbers in April 2010.
This almost 5% plunge in only 5 years is one of the most dramatic in American history. The financial crisis of 2008, the toxic subprime mortgages, and the great recession have converted many would-be homeowners into renters.
Even more disturbingly vacant homes have swelled by 44%.
Where before in 2000 there were 10.4 million vacant homes that number has skyrocketed 43.8% to 15 million homes in 2010.
Get a load of this perspective…11.4% of all housing units are vacant. That’s what these numbers mean.
Until the housing market re-stabilizes, bad debts are eliminated and we become friendlier to businesses the economy won’t get back on healthy footing.
So what to do in the meantime?
You can sit on the sidelines like a lump on a log or you can thrust yourself into the game and profit handsomely.
Investment opportunities abound in oversold businesses as well as beaten down real estate.
Take your pick, do your research, find good values and pull the trigger to buy real estate assets at these low prices so you can profit from the cash flow and the likely appreciation when the economy turns the corner and starts rapidly rising again.