The job market continues to show improvement, and interest rates remain historically low, yet the homeownership rate in the U.S. remains near a 50-year low.
The National Association of Realtors recently released a new white paper titled, “Hurdles to Homeownership: Understanding the Barriers” which lays out five reasons for the low homeownership rate. NAR released its paper in recognition of National Homeownership month at the Sustainable Homeownership Conference at the University of California, Berkeley.
Here are what NAR says are the five main barriers to homeownership:
- Post-foreclosure stress disorder
- Mortgage availability
- The growing burden of student loan debt
- Single-family housing affordability
- Single-family housing supply shortages
Read more about this topic at: https://www.housingwire.com/articles/40385-nar-here-are-5-reasons-for-low-homeownership-rate