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U.S. Homeownership Falls to Lowest Since %u201998 - Bloomberg - The U.S. homeownership rate fell to the lowest level since 1998 in the second quarter as stricter lending standards blocked purchases and foreclosures forced people out of their residences.
From Nony

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Roddy Wrote the following on 07/30/2011 4:08 PM :
This is a good thing. Banks gave mortgages to people who couldn't qualify for a used car loan. Home ownership is not the Holy Grail. In Germany, only 40% of people own houses, and they are in much better shape than us.


CC Wrote the following on 07/31/2011 01:15 AM :
Amen Roddy. All that bullcrap about promoting home ownership, blah, blah, blah is useless for people who can't pay the bills they already have.


CC Wrote the following on 07/31/2011 01:17 AM :
Now thanks to that crap people with spotless credit have trouble qualifying. Don't matter much anymore, so many are either out of a job or living paycheck to paycheck with shot credit.



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