Normal Homeownership Levels Could Have Added $300 Billion To The Economy

March 28, 2017

The super-low homeownership rate has been really costly.

CNBC reports that a return to more normal homeownership levels could have added 1.8 percent growth, or $300 billion, to the economy in 2016, according to a study from the Rosen Consulting Group.

Last year, the homeownership rate hovered around 63 percent, the lowest in 50 years. Even though 7.5 million new households have been formed in the last 10 years, CNBC notes that there were still one million more households in 2006 than in 2016.

President Donald Trump "can get the 3 percent-plus growth he needs by just moving back the regulatory environment and giving a safe harbor for those lenders in the marketplace," said Ken Rosen, chairman of Rosen Consulting. "I think it's something that can be done by changing regulations rather than a bill in Congress."

Read more

Comments

Related Categories

PB-Economics,PB-Government
expand_less