For several years following the subprime mortgage crisis, homeownership and attitudes toward buying a home declined significantly.
“Those downturns may have been related to how potential home buyers saw their friends or parents affected by the crisis, or how the recession brought on by the crisis impacted their ability to finance the purchase of a home,” said Ian Kresnak, a Vanguard investment strategist. “Whatever the cause, the share of the population interested in homeownership fell to about 2%—well below the average of 3.5% for the four decades ended in 2018, according to the Conference Board’s Consumer Confidence Survey.”
More recently, that sentiment has surged, the survey shows: About 6% of respondents now report they are considering buying a home in the coming six months. “Sentiment indicators can be circumstantial,” Hirt said, “but we find it currently to be a representative measure of the attitude shift, and it correlates well with increased demand and rising homeownership rates in the U.S.”