Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Investments

Urban Institute: Rental surge to drop homeownership rate to 61.3% by 2030

Rental housing stock not nearly enough to handle coming wave

The Urban Institute’s Housing Finance Policy Center just released a major new longitudinal study of expected household formation and homeownership rates from 2010 to 2030. 

The paper predicts that the homeownership rate will continue to decline through 2030 and that a major rental surge is upon us, a surge the United States is not truly prepared to meet. 

Most concerning, they forecast the homeownership rate to drop to 61.3% by 2030.

For context, the homeownership rate in the first quarter of this year fell to 63.7%, the lowest since 1990, according to the U.S. Census.

The homeownership rate is the ratio of households that own to overall households — the remaining being rental households.

blog written by the study authors highlights five key take-aways:

  1. A rental surge is coming. 13 million of the 22 million new households that will form between 2010 and 2030 will seek to rent, rather than buy, their homes.
     
  2. Most of the new households that will form between 2010 and 2030 will be non-white.
     
  3. The homeownership rate will decrease for all age groups, except those over 75. The authors predict that the overall homeownership rate will be 61.3% by 2030: 70% for whites, 40% for African Americans, and 48% for Hispanics.
     
  4. African Americans will fall further behind all racial groups in homeownership. By 2030, the homeownership rate for African Americans will be 40%, a large drop from 46% in 2000. The rate for Hispanics will move in the opposite direction, increasing from 46% in 2000 to 48% in 2030.
     
  5. The number of senior-headed households will increase dramatically. The number of households over age 65 will increase from 25.8 million in 2010 to 35.4 million in 2020 and to 45.7 million in 2030. 

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