Housing Data Wrap Up August

Housing Data Wrap Up August

The housing market continues to have a difficult time putting the legacy of this past decades epic bust behind it.
However, we see conditions continuing to gradually normalize over the next couple of years. Stronger job and income growth is bolstering consumer confidence and should ultimately increase household formations.
The process is slow, however, and attitudes toward home ownership are clearly less favorable than they have been in the past, particularly among younger households, at least as measured by the quarterly homeownership data.
The perception that younger households are going to rent forever is a bit overblown. Younger households have come of age in a particularly challenging job market and many are also carrying huge student loan debts.
Such households are likely to remain renters for longer than in the past, but eventually, young people will marry and have children just as generations before them have!

Andy Walker Headshot
Phone: 201-424-8628
Dated: September 3rd 2014
Views: 2,544
About Andy: Having lived in New Jersey for over 20 years, I have been a top producing Realtor and member of the ...

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