Fact is, if there are more governors on home buying--below-par wages, high student debt, tougher credit standards, higher home prices, etc.--then homeownership rates will continue to crater.
However, life-state decisions, plans, and processes suggest that young people--who've been lagging in their household formation and evolution stages--are glacially shifting. Wall Street Journal staffer Laura Kusisto taps into a rather wonky data source, the Census' HVS--homeowner vacancy survey--to comment on latest fourth quarter benchmarks. She's especially taken with the reemergence of Generation X buyers in the market, a cohort you don't often hear mentioned these days. She quotes Trulia chief economist Ralph McLaughlin on the GenX factor:
Mr. McLaughlin pointed to a significant improvement in the homeownership rate among people ages 35 to 44, who were among the worst hit during the foreclosure crisis. The homeownership rate among that group increased to 59.3% from 58.1%.