Quantcast
Subscribe!

 

Enter your email address:

Delivered by FeedBurner

 

E-mail Steve
This form does not yet contain any fields.
    Listen to internet radio with Steve Boese on Blog Talk Radio

    free counters

    Twitter Feed
    « FOLLOW-UP: More on Home Ownership and Employment | Main | On our wearable technological future workplace »
    Thursday
    Oct312013

    CHART OF THE DAY: The American Dream of Renting

    Ok, so perhaps that title was not totally fair, as the while the below chart could be interpreted in a couple of different ways, depending on your point of view and level of relative optimism/pessimism/cynicism.

    But first, the chart in question, showing the trends in American home ownership for roughly the last two decades, (my comments of course, after the jump):

    The current percentage of Americans owning their homes stands at about 65%, roughly equal to the rate in 1995, prior to the last two recorded recessions, (as indicated by the gray areas on the chart).

    And the rate has been declining since about 2004, well before the American financial crisis of 2008/9, the ensuing economic slowdown, and the dramatic tightening of the availability of mortgage credit.  Combine tighter credit standards with the sharp rise in unemployment (and employment security) in the period of 2008 - 2010, then you have the basic root causes for the fall in home ownership. Even the historically low mortgage interest rates of about 2011 until, well, until now, have not been able to reverse this trend. Oh, and one more data point to consider - all cash sales of property (primarily from banks and other investors), have continued to rise - some estimates say these cash sales now constitute half of all transactions. Even if a prospective individual home buyer has a stable job, and can qualify for a home mortgage, they often find themselves losing out to a competing all cash offer from an investor or syndicate.

    In the depths of the recession it was often theorized that employment mobility was becoming compromised by people's inability to sell (at a price that would be acceptable if they could sell at all), their existing homes in order to facilitate a job change or even a transfer inside their current company. In many parts of the country large numbers of homeowners were underwater on their homes, owing more to the mortgage holder than the home could expect to fetch in a sale.

    In 2013 and perhaps in the future, the trends in the rate of home ownership and in the increase of all cash and investor-driven residential home sales, while seemingly not positive developments for the average employee, could be ones that end up benefiting the organization. In 2009 and 2010, organizations were probably finding it hard, (or very expensive), to facilitate employee transfers around the country or to convince that desirable candidate to relocate from one state to another when selling a home at a loss simply was too much of a financial burden to take on, no matter how fantastic the job opportunity might have been.

    But with the home ownership trends heading downward, and the investor-driven all cash sales on the rise, the chances are increasing that the great candidate or that high-potential manager you'd like to send on a rotational assignment to Kentucky are going to much more able to make these kinds of moves in the future. Without the need to sell the house, well, most folks are just a few months away or a broken lease from taking the next great gig.

    Of course, while not being burdened by home ownership makes someone more likely to listen to your opportunity or offer, it also makes them equally able and receptive to everyone else's offers as well.

    Happy Halloween my friends.

    PrintView Printer Friendly Version

    EmailEmail Article to Friend

    References (107)

    References allow you to track sources for this article, as well as articles that were written in response to this article.
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Silkmilque Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Silkmilque Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Cafe Vert
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Cafe Vert
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: pulau pari murah
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Glycemate Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Versilla Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Shred HD Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Shred HD Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Aktive AM Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Aktive AM Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Garcinia Direct
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Revimax Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Velour Skin Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: ageless eyes
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: idrotherapy
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Adrenapump Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: felt road bikes
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: felt road bikes
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Tforce
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Revimax
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Ebon Talifarro
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Adaraderm Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Goji Vita Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Forskolin Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Forskolin
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Instant Repair
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Rock Hard Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Nuvitaderm
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: L'Envi
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Velour Skin
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Derma ProMedics
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Derma ProMedics
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Dex Party Powder
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Lumalift
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Maxburn cambogia
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: phytolyft Review
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Skin Essentials
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Pristine Dermacare
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Natural Cleanse
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Adrenapump Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: cam asian
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: XT Genix
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: flawless Youth
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Suggested Browsing
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Nutra Skin Reviews
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: GC180
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: prediksi bola
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: windows 7 sur mac
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: www.hybrid-cars.ru
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Home For Life
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting
    • Response
      Response: Home For Life
      Steve's HR Technology - Journal - CHART OF THE DAY: The American Dream of Renting

    Reader Comments (2)

    Don't forget the tax credit for 1st time homebuyers that ended in 2010

    October 31, 2013 | Unregistered CommenterakaBruno

    Good point Matt.

    November 1, 2013 | Registered CommenterSteve

    PostPost a New Comment

    Enter your information below to add a new comment.

    My response is on my own website »
    Author Email (optional):
    Author URL (optional):
    Post:
     
    Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>