December 2015 - Fortune Tellers

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 7 Source: GOBankingRates HOMEOWNERSHIP PICTURE Bottom Five U.S. Metros With Lowest Homeownership Rates (2014 vs. 2005) AMERICA'S NEW R ecent data compiled by Lawnstarter from the U.S. Census Bureau showed the homeownership landscape is changing. The data compared homeownership rates in top metro areas in 2014 versus the homeownership rate in 2005. For example, in 2014 homeownership rates were highest in Richmond, Virginia at 72.6 percent and the lowest rate was recorded in Los Angeles, California at 49 percent. However, 2005 homeownership rates painted a different picture with the highest rate recorded in Akron, Ohio (78.1 percent) and the lowest consisted of a tie between Fresno, California and Los Angeles, California (51.8 percent). Los Angeles, California Los Angeles, California had the lowest homeowner- ship rate in 2014 at 49 percent, but the homeownership rate was a bit higher in Fresno, California in 2005 at 51.8 percent. New York, New York Second on the list is New York City, New York with a low homeownership rate of 50.7 percent, and Los Angeles, California's home- ownership rate was 51.8 percent in 2005. Bakersfield, California The homeowners of Bakersfield, California comprised a home- ownership rate of 52.8 percent in 2014. In 2005, New York City, New York's homeownership rate was 54.6 percent. Las Vegas, Nevada Ranked fourth on the list in 2014 is Las Vegas, Nevada with a homeownership rate of 53.2 percent, while San Francisco, California's home- ownership rate was 57.8 percent in 2005. Fresno, California Yet another California city made the list, with Fresno's homeownership rate reaching 53.9 percent in 2014. Honolulu, Hawaii homeowners comprised a 58.0 percent homeowner- ship rate in 2005.

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