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Links of the Day:

– Home ownership rates in the United States are at a 15-year-low, slipping to 65.4 percent. Reuters reports:

“You are seeing the perfect storm of age, financing and the business cycle coming together to push down the homeownership rate,” said Steve Blitz, chief economist at ITG Investment Research in New York.

The homeownership rate, which was measured at 66.0 percent in the fourth quarter of 2011, peaked at 69.4 percent in 2004 at the height of a housing market boom fueled by cheap credit.

The collapse of the U.S. housing market bubble triggered the 2007-09 recession. With house values tanking, many – especially the younger generation – are rethinking the so-called American dream of owning a home.

Rochester has certainly seen a dip. Here are first-quarter home ownership rates over time:

  • 2007: 74.1
  • 2008: 73.4
  • 2009: 70.5
  • 2010: 68.4
  • 2011: 73.4
  • 2012: 67.5 

Even with Rochester’s relatively stable housing prices, a greater percentage of the population has been able to afford buying a house.

 – An out-of-town visitor to Rochester left thinking our city is horrible. The woman wrote to the Democrat and Chronicle about seeing Jersey Boys and coming out to find her car window smashed. She was shocked police would only take a report over the phone. Welcome to the urban life.

– The RCSD’s deputy superintendent is leaving to join Jean-Claude Brizard in Chicago.

– The state might drop the global history exam requirement. Teachers are mad.

– Could police departments one day be able to fly drone aircraft to monitor neighborhoods?

Stick shifts are dead. Long live stick shifts!

3 Responses to Not Buying Homes

  1. “She was shocked police would only take a report over the phone” — This is a real problem. We were well-aware of the crime problems in Rochester before moving back here from Washington DC (yes, from DC). Sadly, the petty crime is a real problem in the city. I know the police have their hands full with some parts of the city – but even DC, NYC and Boston were able to get this under control. What is the deal with crime Rochester?

    • Adam: the couple of comments to the D&C article and the likes to them were indicative of the acceptance of the breakdown of civil order in the City of Rochester.

      Stop and think what the comments infer: they’ve got their hands full with bigger crimes than your petty little inconvenience while visiting an establishment that brings us Annie reruns and traveling road show theater.

      This in a paid parking lot. And she’s gone off and told all her family and friends.

      So, if the police have structured their efforts to deal only with the bigger fish to fry, what does that tell you about the city?

      The Mayor just bragged on that crime is down in the City? If it’s down, would there not have been a sliver of time to make an exception to the rule for the lady from downstate? Wouldn’t there have been a cop cruising nearby The Aud due to the event itself?

      I’m surprised they didn’t ticket her on the way back to the hotel for the illegal condition of her car’s drivability.

      Is that window glass repair place still next door to the Aud? I wouldn’t know, I don’t go around those parts anymore. Too dangerous.

  2. Rachel love the blog — thanks for all the great insight everyday.

    I love a stick shift and was happy to read they are making a come back. Many years ago I was a marketing manager and we were doing the breast cancer drive for the cure with BMW.(where every mile the bmw’s were driven, $1 was donated)

    I asked the guy at BMW why they were doing this promotion and he said it was because they realized that a segment of women really wanted a performance car but until recently bmw had totally ignored them.

    long live the stick shift and performance vehicles! woot

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