Matthew Gardner, chief economist for Windermere Real Estate, writes in INMAN about the role of Millennials and boomerang buyers and the decline in homeownership since the first term of President George W Bush. Many wring their hands over the decline from over 69% home ownership to today’s low that equals the lows of the 1980s. “If we look at homeownership rates by age, between 1994 and today, the decline in homeowners under the age of 35 is 2.5 percent. A palpable drop, but slight when compared to 35- to 44-year-olds who have seen their numbers fall by 6 percent from 64.4 percent to 58.4 percent.” [...]

The National Association of Realtors (NAR) recently released a new study that looks at the markets for vacation and investment homes. Last year 40 percent of all homes bought in America were vacation homes and investment properties. That's more than 3,000,000 homes per year!” Vacation homes are finding buyers. According to NAR, sales of vacation homes in the U.S. boomed last year, even rising above their most recent peak in 2006, just before the housing crash. More remarkable is that in 2006, lending standards were very lax. Now, they are strict -- yet sales have surpassed the 2006 high. [...]