Home Ownership Rate Drops (Again)

Its unfortunate the homeownership gains of the last 10 years has been practicall erased by the economic crisis that was ignited by the crash of the once booming housing market. The majority of the homes lost have been suffered among the ranks of minority homeowners and 1st time homebuyers. One can only summize that this defeat in our housing market stems from a lack of financial understanding. While its important to turn the tide of the declining housing market, its equally as important to require future generations to be financially literate prior to finishing school and entering a workforce without an understanding of how to manage the money they earn. Without instituting financial literacy for school kids, the American Dream of homeownership will be viewed as a nightmare in waiting for many.

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Marcus of VA 2:52PM April 28, 2009