Housing is dead! No American wants to own a home anymore. The American Dream is over.
At least that's what you'd think from listening to some of the recent media reports.
This sensational headline would certainly make you think so: Homeownership at lowest level in a decade
Yet on closer examination, you'll find that 66.9% of the households in the United States own their homes. While down from the 2004 peak of 69%, this number ain't bad. Remember that some of these folks who owned homes at the height of the housing boom should have never bought in the first place.
The bottom line is that 66.9% of Americans feel that there's value in purchasing and owning a home and acted upon this knowledge, making it a reality.
Locally in the D.C. area, the numbers are quite interesting. Washington D.C. proper has the lowest homeownership rate in the country at 44.7%, while Virginia's homeownership rate is above the national average at 68.6%. Nearby West Virginia has the highest home ownership rate in the country at 78.7%.
Now, let's compare the national 66.9% homeownership rate with some other national statistics:
56.8% of eligible Americans voted in the 2008 Presidential Election.
39% of Americans own a dog. 33% own a cat. 3.9% own a bird.
Approximately 22% of Americans own a gun.
53% of Americans pay federal income tax.
41.6% of Americans have an account on Facebook.
Only 3.2% of American adults are vegetarian.
32% of American men have a mustache!
15-20% of Americans smoke pot.
55% of U.S. homes have 3 or more televisions.
1% of Americans are homeless.
REPEAT: 66.9% of American households own their own home.
Is the sky falling? You decide.
Perhaps it's time to stop listening to statistical spin doctors and buy a home of your own.
Thank you for reading my blog post. If you like what you’ve read, then please: