“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.)
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?