Single Family Home Affordability is a passion and focus with me. I live in a city which is still re latively affordable by big city standards but for how long will it remain so?
I just read that in the 1st Quarter that home ownership slipped to 63.5% down from 63.7% in the 1st Quarter of last year. (US Cenus figures) But there are figures that are much more disturbing than these. I read an article yesterday in the local newspaper by Josh Boak from the Associated Press in which he quoted some numbers I found disappointing and disturbing.
He cited figures from the US Census Bureau which said only 41.5% of black American households own their own homes. Previously in 2004 it was almost at 50%. Hispanic home ownership also dropped from approximately 50% to its current 45.3% level. Anglo home ownership dropped as well but not as dramatically. Nonetheless, home ownership is dwinding in America anyway you look at it.
And Americans have traditionally used their home to build wealth and if that dream and goal is gone how realistically can any American strive to achieve a solid future and financial security and independence.
Plus, in San Antonio and across the country rental rates are rising.
This is a problem that needs to be addressed.
Clark Niblock
210 416 5940
#SanAntoniosBestRealtors
RESupermen.com
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