A June 28 headline on CNBC reads, “Homeownership rate drops to 63.4%, lowest since 1967.” The report goes on to say “The number of occupied housing units grew, but all on the renter side.”
What does this change mean for the future of real estate in the U.S.? Will the recent rebound in mortgages and real estate prices continue?
Listen to this clip from Steve Hochberg’s recent presentation at the San Francisco MoneyShow to get Elliott Wave International’s unique perspective on the future of the U.S. real estate market (don’t miss the link at the bottom to watch 4 more clips from Steve’s presentation):
This article was syndicated by Elliott Wave International and was originally published under the headline Despite Low Rates, Housing Rebound is Weak. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.