Home Ownership Now at 1998 Rates

Home Ownership Now At 1998 RatesThe percentage of Americans who own their own home has been slipping for many years. The percentage of Americans who live in their own home is now receded back to the rates that existed in 1998, according to recent census data. In the first quarter of 2011, home ownership in the United States slipped to 66.4%. This is on top of a reduction in the number of families who own homes in the fourth quarter of 2010 to 66.5%.

2005 Was The Apex of Home Ownership In the United States

In 2005, 69.1% of Americans owned their own home. The rate of home ownership in the United States has been steadily declining since 2005.

The American Dream

Owning a single family home has been the American dream during the 20th century. The Bush Administration and the Clinton Administration had policies to foster home ownership. Unfortunately, these policies were too generous and the American public manipulated these programs to create a real estate bubble in the United States. For the past three years, this real estate bubble has had a negative effect on the economy in the United States. The trend is starting to change in 2011 and hopefully in 2012, an election year, America will come out of it’s recession and real estate values will increase.

Foreclosure Defense Lawyer

We help clients whose homes are in foreclosure. We assist our clients with mortgage modification applications, as well as dealing with mortgage modification programs that fail to meet our clients needs. We have extensive experience in litigating all aspects of foreclosure proceedings, including, but not limited to, defective mortgages, defective foreclosure lawsuits, predatory lending, bad faith issues and foreclosure related real estate proceedings.

We attend foreclosure court conferences for our clients. We also provide clients with a list of foreclosure options. These options include foreclosure related bankruptcies such as Chapter 13 bankruptcy and Chapter 7 bankruptcy. Both of these bankruptcies immediately stop foreclosures from moving forward. If we file bankruptcy for our clients, we also can help them in re-establishing their credit at the end of the bankruptcy. Feel free to call us for a free consultation. We appreciate you spending time on our foreclosure blog.

Home Ownership Hits Lowest Level in a Decade

There is weak demand for purchasing homes in the United States.  At the same time, banks have taken a very conservative approach with regard to giving new mortgages to perspective home owners.  There are also record amounts of homes going into foreclosure in the United States.Currently, 66.9% of the households in the United States own their own home.  This is the lowest percentage of home ownerships in the United States in the last 10 years.

There are currently approximately 19 million homes, or 14.4% of all homes and apartments in the United States, that are unoccupied.  During the past five years, there has been a significant increase in the amount of homes that have remained unoccupied.

Foreclosure Crisis

The foreclosure crisis in the United States has significantly added to the number of homes that are either unoccupied, in foreclosure or have been taken over by the bank.  The real estate market in the United States is based on supply and demand.  There is currently a large supply of homes that people seek to sell or that have been taken over by banks in foreclosure situations.  The demand by individuals to purchase these homes is not in sync with the supply.  This causes a reduction in the prices of houses being sold.

About Our Law Firm

The Law Offices of Schlissel DeCorpo is a general practice law firm that has extensive experience in handling foreclosure defense.  In addition to foreclosure defense, our office handles litigation concerning defective foreclosure lawsuits.  We also assist our clients in Chapter 7 and Chapter 13 bankruptcies, as well as preparing and submitting mortgage modifications on their behalf.  Should you have a problem, feel free to contact us.  Our phones are answered 24 hours per day, 7 days per week.  Our phone numbers are 1-800-344-6431, 516-561-6645 or 718-350-2802, or contact us by email.

Foreclosure Defense in Valley Stream, Lynbrook, Baldwin, Malverne, Freeport, Oceanside, Long Beach, Elmont, Lakeview, West Hempstead, Hempstead, Merrick and Bellmore, New York

We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

This is attorney advertising. This website is designed for general information purposes only. The information presented on this website shall not be construed to be legal advice. If you have a legal problem you should consult with an attorney.

Copyright © 2018 By The Law Offices of Schlissel DeCorpo. All Rights Reserved. Concept, Design and Hosting by GetLegal Web Development Team.