Off the wire:

Declining availability of financing methods that allow people to buy a home without first accumulating a down payment is one of the key reasons for the housing slump, concludes new research published by the Federal Reserve Bank of Atlanta.

The study points out that U.S. homeownership climbed from 64.2 percent of households in 1995 to 69.1 percent in early 2005. The increase reflected the growth of”piggyback” or “combo” loans. As loans like these become harder and harder to get, the homeownership rate has declined.

According to the Census Bureau, it was 68.2 percent in the second quarter of 2007, down from 69.2 percent in the fourth quarter of 2004 and 69.1 percent in the first quarter of 2005.

Of course, those who put no money down found themselves more likely to encounter difficulty selling their homes in the down market that followed, and many of those who bought with no money down did so with adjustable rate mortgage loans, which are now resetting to higher rates than they can afford.

So, is the drop in homeownership necessarily a bad thing?


Source: – Tight Lending Cuts Homeownership, Fed Study Says – By Peter Coy, Business Week Online, by way of

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Updated: 1st Q 2018

Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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