Relevant:
- Homeownership Needs Reviving While Mortgage Rates Remain Low
- Existing-home sales slide for third-straight month in June, touch 5-month low as housing sputters
- S&P/Case-Shiller: Home Prices End 2010 on Downtrend
- U.S. home sales hit 10-year high, prices soar on low inventory
- U.S. new home sales race to eight-year high, prices surge
2012-04-30 — marketwatch.com
Rising demand for rental units, however, has pushed prices to the second-highest rate ever. The median asking price by landlords rose to $721 from $694 at the tail end of 2011.
The only other time prices were higher was in 1999.
...
The unemployment rate remains stubbornly high at 8.2%, and incomes have stagnated. Fewer Americans can afford to buy a home or qualify for a mortgage, especially given tighter lending standards. As a result, home ownership declined again. It fell to 65.4% from 66% in the fourth quarter, putting it at the lowest level since 1996.
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