×

The Crucial Relationship Between Homeownership Rates and Household Income

MIAMI, Oct. 8, 2012 /PRNewswire/ -- Analysts and real estate market experts at BankForeclosuresSale.com have just released a revealing new infographic providing homebuyers and investors with valuable insight into the causes and effects of the recent housing crisis.

Drawing on information gathered from the U.S. Census and public records, the infographic details statistical trends in home ownership, household income, home values, and interest rates over the past decade to paint a remarkable picture of the evolution of the market. This information provides homebuyers and real estate investors with important information on the events that led up to the housing crisis, as well as a positive outlook for the future.

For example, we can clearly see that an extreme jump in homeownership leading up to 2004 corresponded with rising household income. The infographic also demonstrates that the average price of a home rose sharply in the early part of the decade, only to fall drastically after the housing bubble burst around 2007.

Perhaps most interesting for buyers is the fact that mortgage rates are currently at their lowest point since 2003, and average home prices are the lowest they've been since the housing crisis first began. This combination of trends means home buyers can currently find the lowest prices available on homes in the past 5 years, and that financing the purchase with a mortgage is cheaper than it's been in a decade, meaning that it's a great time to buy.

"The numbers not only show that real estate is still a great investment, but that buyers can take advantage of some historic lows in the market," said Simon Campbell, a Senior Business Analyst with BankForeclosuresSale.com. "Even though home values have fallen, they're still worth more than they were 10 years ago, and with interest rates lower now than at any point in the past decade, it's a big opportunity."

Campbell also pointed out that while homeownership may still be low, the stage is set for a turnaround. "With household income steadying as the economy improves," said Campbell, "All signs point to increasing demand for housing."

Home buyers and real estate investors looking to take advantage of the current market can view the infographic at [http://www.bankforeclosuressale.com/wp/article-10054015.html] or visit BankForeclosuresSale.com for more helpful information on current trends in the real estate market.

BankForeclosuresSale.com is a leading provider of foreclosure listings, news, and information concerning the foreclosure real estate market. In business since 1998 and based in Miami, BankForeclosuresSale.com is a leading source for up-to-date real estate listings currently available nationwide.

LOGO 72dpi: Send2Press.com/mediaboom/12-1005-bankfcsale_72dpi.jpg

This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com

SOURCE Bank Foreclosures Sale