The Vero Beach home ownership rate has dropped to 65 percent according to the US Census Bureau. This is after holding above 66 percent for the past three quarters. The last time the rate was this low, former President Bill Clinton was in office serving his second term.
With the nationwide home ownership rate also at 65% and home values increasing, the housing industry and consumer groups are pressuring lawmakers to make the American Dream more accessible to the masses. Advocates are pushing for new mortgage standards crafted to prevent another crash.
The question is, will Vero Beach home ownership fall even further before the rate begins to turn upward?
Real estate analyst Jason Meister, former Fannie Mae executive Tim Rood and Fox Business News’ Neil Cavuto talk about the state of the housing market in this short video report.