Homeownership Rates Could Finally Be On the Upswing

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Small but visible increases show the market may have finally hit rock bottom

January 29, 2016

Photo Credit: Mark Moz, Flickr Creative Commons

Sometimes you have to hit rock bottom before you can start getting better. Just ask any Jersey Shore viewer. Sometimes it takes that moment of sitting at home alone on a Friday night, eating microwave pizza, and watching a marathon about fake-tanned New Jerseyans to get back on the right path.

With any luck at all, that's the situation the homeownership rate finds itself in right now, causing it to get its act together. According to The Wall Street Journal, the rate ticked up slightly in the fourth quarter of 2015, possibly signifying it has finally hit rock bottom and will begin to right itself.

The rate moved from 63.7 percent in the third quarter to 63.8 percent in the fourth quarter. A possible explanation for this is that some of the 9 million owners who lost their homes to foreclosure or short sale during the foreclosure crisis could finally be returning to the market.

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