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Accelerating to Third World America: One Third of Home Occupants Rent and Eighteen Percent of US Homes Vacant

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The economic and housing crises have wreaked massive changes in how Americans live, as we accelerate our slide into third world status

A quarterly Census report on homeowner vacancy and homeownership states that of the 131 million homes in the US, 112.5 million are occupied and of those, 74.8 are owned. That means that about one third of the occupied homes in the US are being rented. 

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A smart discussion of the report at CNBC explained that the number of unoccupied homes dropped, but that was because of a big uptick in rentals. The article observes, 

Younger Americans have seen what home ownership has done to their friends and families, and many want no part of it. Credit has become very nearly elitist. Home prices, whatever your particular data provider preference might be, are still falling.

Banks, Fannie  [ FNM    0.488       0.001    ( +0.21% )    ]  and Freddie  [ FRE    3.28       0.01   ( +0.31% )    ]  are holding on to hundreds of thousands of properties, and we don't know exactly when or how they'll sell them.

Where do you think those 18.5 million homes mortgages are being held. I figure Fannie and Freddie are holding MILLIONS of empty home mortgages. They're going to have to either rent them or sell them-- probably to investors who will turn them into rentals. 
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Homes have always been one way the middle class has tethered  its claim to financial comfort and security. That mooring is eroding quickly, down about five percent in recent years. 

As the wealthy take over homeownership, the middle class is being weakened, made more vulnerable-- another signal that we're sliding further into third world status. 







 

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Rob Kall has spent his adult life as an awakener and empowerer-- first in the field of biofeedback, inventing products, developing software and a music recording label, MuPsych, within the company he founded in 1978-- Futurehealth, and founding, organizing and running 3 conferences: Winter Brain, on Neurofeedback and consciousness, Optimal Functioning and Positive Psychology (a pioneer in the field of Positive Psychology, first presenting workshops on it in 1985) and Storycon Summit Meeting on the Art Science and Application of Story-- each the first of their kind. Then, when he found the process of raising people's consciousness and empowering them to take more control of their lives one person at a time was too slow, he founded Opednews.com-- which has been the top search result on Google for the terms liberal news and progressive opinion for several years. Rob began his Bottom-up Radio show, broadcast on WNJC 1360 AM to Metro Philly, also available on iTunes, covering the transition of our culture, business and world from predominantly Top-down (hierarchical, centralized, authoritarian, patriarchal, big) to bottom-up (egalitarian, local, interdependent, grassroots, archetypal feminine and small.) Recent long-term projects include a book, Bottom-up-- The Connection Revolution, debillionairizing the planet and the Psychopathy Defense and Optimization Project.

Rob Kall Wikipedia Page

Rob Kall's Bottom Up Radio Show: Over 200 podcasts are archived for downloading here, or can be accessed from iTunes. Rob is also published regularly on the Huffingtonpost.com

Rob is, with Opednews.com the first media (more...)
 

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