California’s potential first-time homebuyers (aged 25-34) numbered 5,404,486 in 2011. At the same time, the state’s homeownership rate stood at 55.3%. California homeownership has dropped steadily during 2012. It will level off around 2016 as a wave of now-tenants enter (or re-enter) the market as buyers.
California’s homeownership rate continues its fall in the aftermath of the Great Recession. Will the next wave of first-time homebuyers bring a sea change?
Please view data and charts at: http://firsttuesdayjournal.com/will-first-time-homebuyers-save-californias-homeownership-rate/