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Housing Financial Literacy of 2019 H.R 2162
” If we want to promote homeownership, even before getting to address home prices, it is important to first
educate homebuyers, which is the first step in buying a home.” 
- Eric Lawrence Frazier.
 
From the beginning of 2005, until the 2nd quarter of 2016, there has been a steady decline in homeownership rates bottoming out at 62.9%. higher home prices, increasing mortgage rates and the rise in millennial demographics many of who have been saddled with huge student loans debts, have been cited among the top three factors contributing to this decline. Between Q2 2016 and Q1 2018, there have been signs of recovery where the national homeownership rates grew to 64.2%, which nationally is quite a significant increase. According to the U. S Census Bureau research, states with large urban centers or states with most of its population living in urban centers have lower homeownership rates more than the rural states. Lower median home prices correlate with higher rates of homeownership.
The American Dream has for long been defined by homeownership, however, judging by the current developments and trends, this aspiration is wanting. The US seem to be undergoing a very diverse paradigm shift- the long-term shift from a society ... more

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