Fear of homebuying; why financially able households may avoid home ownership

Article Abstract:

African Americans, Hispanics, Whites and people from other cultures view the process of homebuying as complex and unpredictable. The national homeownership rate revealed that the low percentage increase is affected by financial and demographic factors. Focus-group discussions showed that renters are hindered from homebuying due to anxieties and fears brought by the planning and long term committment for ownership. Some would not risk buying houses that would be a strain to their income. Discussions showed the need to re-orient renters about the process of homeownership.

Residential Buildings, Residential Building Construction, Single Family Housing Construction, Single-family housing construction, 1-Family Housing, Research, Residential construction, Single family housing, Housing management

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Looking at 2000

Article Abstract:

Housing experts predict home ownership to climb steadily into the beginning of the 21st century as the baby boomers grow older and have families of their own. They also believe that immigration will contribute significantly to the increase in home ownership as increasing number of foreigners, especially Asians, become residents of the country. The growth in single-family household will exceed the growth in multi-family housing because there will more likely be an increase in single-parent and single-adult households.

Housing Programs, Administration of Housing Programs, Demographic aspects, Housing policy

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