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October 20, 2011 / mpauli

States with the highest (and lowest) homeownership

Interesting article from 247wallst.com. As the title implies, this article discusses the highest and lowest homeownership rates in the USA. Only one of their findings surprised me, and that was the State with the 3rd highest percent of home Ownership: Michigan.

I would have suspected with the decline in the auto industry, increase in unemployment and REO / foreclosures that this percentage would have decreased. Maybe it has, as this article does not give a starting point, or a reference as to “where were they.” It would have been nice to see a graph / chart with the top 5 states with the largest swing in Homeownership %.

The states with the lowest homeownership make complete sense to me: NY, CA, HI, NV, and RI. I was a bit surprised not to see Illinois in this group to be honest. However I cannot argue with these 5 – though Rhode Island does seem to be a bit of an outlier on this list.

It would be interesting to see this stats in metro areas as well. I would suspect there you would see an inverse relationship to the size of the city (NYC, LA, Chicago) to the percent of homeownership. Land is too expensive and these cities are transient. A good indicator of this I spoke about yesterday – apartment buildings are on a huge upswing for investors at this time.

If you are interested in the full article – here it is: States with the highest (and lowest) homeownership.

Please do not hesitate to reach out if you have any questions about Chicago’s real estate market. I can be reached at mattpauli@atproperties.com or my website at MattPauli.com.

Cheers,

Matt

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