According to the National Association of Realtors, home ownership rates for 2010 was down 6.9% from 67.4% in 2009. Why?
The perfect financial storm for owners shifting to become tenants has happened.
Buying a home has become much more difficult recently with lenders requiring higher down payments and much more strict borrowing requirements.
Fewer and fewer would be buyers are able to qualify for the harder to obtain loans? Why?
Lenders have been through an incredibly tough period, and they are very cautious about lending and absorption rates.
Does this all make sense... Not really, but with today's volatile markets, it's not hard to understand why banks are being overly cautious about making loans.