This article is about Homeownership Levels In The U.S. Recorded To Be Highest Since 2013
The U.S. economy is on fire and booming.
- The Dow Jones Industrial Averages are hitting new record highs daily
- Unemployment rates have hit a 50-year low
- Interest rates are at an all-time low
- Wages for American workers are at a historic high
- Home values keep on skyrocketing with no sign of a correction
- Mortgage rates on all loan programs have hit a bottom historic low
- Homebuilders cannot build homes fast enough to meet demand
- Both realtors and mortgage lenders are booming with many more business than they can handle
- The Trump economy has been enjoyed by consumers, businesses both here in the U.S. and globally
- Breaking News hit yesterday that the U.S. homeownership numbers hit a six-year high in the fourth quarter
- More young and low-income Americans purchased homes since 2013. Experts are anticipating the number of new home buyers will keep on growing
Data Of Homeownership Levels Hitting A Record High Since 2013
Michael Gracz, the National Sales Manager of Gustan Cho Associates said his team’s growth has been increasing year after year since 2013. Every year, the growth level has been at least 50% or more. 2019 has hit a record year in originations and funded loans for Gustan Cho Associates Mortgage Group.
The Main Reason Why Homeownership Levels Keep On Rising
According to the Trump Administration, household income for the average American family rose $10,746 since President Trump took office. The economy has been booming with no signs of any correction. Besides the booming economy, the lowest mortgage rates in history are adding fuel to the fire in Homeownership Levels skyrocketing. Never in history has the market been booming and rocking as it has during a President’s tenure like that of Donald J. Trump. Another catalyst that is driving record homeownership in the U.S. is the new loan programs that keep on coming out. FHA, VA, USDA, Fannie Mae, and Freddie Mac keep on lightening up mortgage lending standards. Homebuyers no longer need a 20% down payment to purchase a home. FHA requires only 3.5% down payment on FHA loans. Fannie Mae and Freddie Mac require a 3% to 5% down payment on a home purchase. VA and USDA do not require any down payment on a home purchase and offer 100% financing.
New Loan Programs Launched By Lenders
Bank statement loans, asset-depletion, non-QM loans are becoming increasingly popular for home buyers with prior bad credit but who have recovered. More and more millennials and lower-income people are buying homes. Many renters are wising up and realizing that homeownership may be cheaper than paying rent. Many real estate investors are seeing their long term tenants fleeing their rental units to become homeowners. This is a breaking story. We will keep our viewers at Gustan Cho Associates updated on further developments.
