B of A: Homeownership rate will be 63%

“Housing analysts at Bank of America say the nation’s homeownership rate will decline further,” reports Housing Wire. “The rate will eventually fall to about 63 percent and remain there, they say.” (The current US home ownership rate is 65.4 percent.)

"Try again later." Well that settles that, doesn’t it?

Do people really believe they can predict something like that? Seriously? It’s one thing to say that, thanks to foreclosures, home ownership is likely to go down further. But to actually try to name a number?

And if they could predict something that detailed, why didn’t these same analysts predict, oh, the entire housing collapse?

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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