In the United States’ history, homeownership has seen many ups and downs. We have seen dramatic expansions as well as cataclysmic crashes.
At the beginning of 2000, home ownership was around 64%.
It reached a peak of almost 70% in 2004. In April 2010, it was down to 65.1%.
The dramatic plunge of almost 5% in just five years is one the most significant in American history. Many would-be homeowners have become renters since 2008’s financial crisis, toxic subprime mortgages and the great recession.
More disturbingly, vacant homes have increased by 44%
In 2010, there were 10.4 Million vacant homes. This number has risen to 43.8% to 15,000,000 homes by 2010.
This is how it looks…11.4% are vacant. These numbers are what they mean.
The economy will not be able to get back on its healthy feet unless the housing market stabilizes.
What can you do while you wait?
You can either sit back and watch, or you can get involved in the game.
There are many investment opportunities in both oversold businesses and beaten down real property.
Make your choice, do your research, locate good value, and pull the trigger to purchase real estate assets at these low prices , so you can benefit from the cash flow as well as the potential appreciation when the economy starts rising rapidly again.