Latest posts by Randolph Taylor (see all)
- Marcus & Millichap Moved $9B Across the U.S in 2018 - May 9, 2019
- Waukegan apartments sell for $42 million - May 2, 2019
- Marcus & Millichap Arranges Sale of a 24-Unit Apartment property in Aurora, IL - April 29, 2019
Home Price Appreciation Widens Affordability Gap, Sustains Strong Apartment Housing Demand
Robust housing demand spurred by steady job gains and wage growth ticked up the home-ownership rate by 60 basis points to 64.3 percent at the end of 2017. The increase was driven by a 220-basis-point advance in the home-ownership rate for those under age 35 to 36.4 percent. Though it is encouraging that this age group is actively purchasing homes, young adult home ownership remains below its pre-recession rate of 40 percent, indicating there is still room for improvement.