Looking Beyond 'Housing Recovery' Headlines - Real Property Management - Sarasota Property Management Company
Harvard’s Joint Center for Housing Studies (JCHS) just released a report that underscores the fact that all is not as it may seem with respect to the so-called "housing market recovery." Some interesting facts reported in the report include:
- Millions of owners are still struggling to make their mortgage payments.
- Credit conditions for home-buyers remains extremely tight.
- Homeownership rates are down.
- Consumer spending on housing as a portion of income is up.
- “Severely burdened households” (those spending more than 50% of 'pre-tax' income on housing) have increased 49% since 2001.
- Market conditions are pushing more households into rentals.
- The share of households owning homes is now at its lowest point since record-keeping began in 1976.
- While declining, foreclosures and delinquencies remain at historically elevated levels.
- With 1.4 million homes still in foreclosure, that equates to more than four times the average rate between 1974 and 1999.
Real Property Management of Sarasota & Manatee is the local affiliate office of the greater company, Real Property Management. Real Property Management is the largest residential property manager in the world having 250+ offices in the U.S. and Canada, and over 60,000 units under management. Real Property Management of Sarasota & Manatee works with the owners of condominium units, single family homes, duplex/multiplex units, and apartment complexes in: Sarasota, Bradenton, Venice, Lakewood Ranch, Parrish, Ellenton, North Port, Englewood, Palmetto, FL. Call us at 941-225-8183
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