At
the end of 2014 the homeownership in the United States was only 63.9 %. That is
the lowest rate since 1994. However, in comparison to other countries such a
rate is high. The homeownership rate in Germany for example is below 50 %.
The
reason for this low homeownership in the US is the mortgage crisis that led to
the housing meltdown and the massive foreclosure wave. During this housing
downturn many homeowners lost their property because they could not afford
their home any longer and had to move back in with their parents. That means
that under one roof sometimes live two or three families together – the parents
and the son and/or daughter with their family. Depending on the size of the
house that can be tough.
Since
the economy is recovering and the job market offers new opportunity these
households have a new change to get on their feet and buy a new home. While
they were living with their parents these potential home buyers had the time to
save some money for the down payment of their new home and could repair their
damaged credit records.
These
home buyers are today in a better financial position when they apply for a loan
and the lenders are also on their way to make loans more affordable. The
lenders know if they do not give loans they will not make money therefore they
will help home buyers to qualify for a loan.
As
an international buyer you should keep in mind, that you have to buy now before
these new US buyers hit the market and you are in the competition with these
homeowners.
You
will find valuable information about an international real estate purchase in
this book
Or
you can contact us at andrea@florida-informations.com.
