statistike iz 1995-e za USA; situacija je danas zasigurno gora...
Housing Affordability (1995 USA)
Highlights
In 1995, about 56 (+/- 0.8 ) percent of American families (current owners as well as renters) could afford to purchase a modestly priced house in the area where they lived. That is, they could afford to purchase a modestly priced house with cash or could qualify for a 30-year conventional mortgage with a 5 percent down payment. Ninety-five percent of this group currently own their homes. A modestly priced house is one that is less expensive than 75 percent of all owner-occupied houses in the area of residence. See box 1 for definitions.
The percentage of families able to buy a modestly priced house was lower in 1995 than in 1984 or 1988 when about 60 percent (+/- 1.0 in 1984, +/- 0.5 in 1988) could afford such a purchase or in 1991 and 1993, when about 58 percent (+/- 0.8 In 1991, +/- 0.6 in 1993) of families could afford to purchase a modestly priced house.
About 10 (+/- 0.6) percent of renters could afford a modestly priced house in 1995 -- not much different than the 11 (+/- 0.5) percent of renters who could afford such a purchase in 1993.
About 19 (+/- 1.9) percent of White non-Hispanic married couples who were renting in 1995 could afford a modestly priced house, compared with 8 (+/- 3.0) percent of Black married couples who were renting.
Renter families in 1995 were usually disqualified from purchasing a modestly priced house for more than one reason (lack of down payment, excessive debt, or insufficient income). About 48 (+/- 1.5) percent of renter households would not qualify because of excessive debt and insufficient income for a mortgage.
Down payment subsidies would do more to improve affordability of a modestly priced home than lower down payments (which would also increase monthly mortgage payments) or a signficant reduction in interest rates. Subsidies would, however, require funding from a private source, such as employers or assistance from home sellers, or non-profit groups, or a governmental agency.
Who Could Afford to Buy a House in 1995?
Barriers to Homeownership.
Many public programs have sought to reduce barriers to homeownership for American families and individuals who desire homeownership. Would-be homeowners are most often discouraged by having excessive debts, by not having cash for a down payment, or by interest rates that set the monthly mortgage payment too high for the family to afford on its current income. This report attempts to quantify these factors for different types of households and to illustrate how affordability might be changed by altering down payment requirements, changing interest rates, or permitting subsidies or other forms of cash assistance to renters seeking to purchase a house.
This is the fourth of a series of reports that have attempted to guage changing housing affordability for families (current owners and current renters) and unrelated individuals. Many homeowners who purchased their homes many years ago might not qualify for a mortgage under current conditions; for them, not being able to afford a house may be a barrier to residential mobility. The data come from the Census Bureau's Survey of Income and Program Participation (SIPP) that was conducted during the first four months of 1995 and collected data on income, debts, and financial assets. Income in this quarter was multiplied by 4 to represent annual income. 1/
Affordability for American famililes was lower in 1995 than in 1993.
In 1995, about 56 percent of all families (including current owners and currrent renters) would qualify for a mortgage for a modestly priced house in the area where they lived using 30-year conventional fixed-rate financing with a 5 percent down payment. 2/ This percentage was slightly lower than in 1993, when 58 percent of families would have qualified. The percentage of unrelated individuals able to buy a modestly priced house under these conditions was about the same -- 34 percent -- in 1995 as in 1993.
This decline in affordability for families occurred alongside a rise in the homeownership rate. In the spring of 1993, about 63.8 percent of American families were owner-occupiers, whereas 64.5 percent were owner-occupiers in the spring of 1995. Over this period of time the number of homeowners increased faster (from 62.0 million in the spring of 1993 to 64.4 million in the spring of 1995, or an increase of 3.9 percent) than the number of renters (from 35.1 million in the spring of 1993 to 35.4 million in the spring of 1995 -- an increase of only 0.7 percent). In fact, between these two dates many renters -- especially those with the highest income, greatest assets, and least debt -- became homeowners. Many of these renters-to-owners used up some of their assets for closing costs and incurred debt (a mortgage), and these changes, along with changes in families' incomes, a slight rise in interest rates, and changes in housing prices over this period nudged downward the affordability measure for all families.
The price of housing in an area affects affordability.
About half of all families could afford a median-priced house, or a price-adjusted house in the area where they lived in 1995. Fifty-six percent of families could afford a modestly priced house, and 60 percent could afford a low-priced house. About one-fourth of all unrelated individuals could afford a median-priced house or a price-adjusted house in 1995, while about one-third could afford a modestly priced house, and two-fifths could afford a low-priced house.
Affordability differs by region and metropolitan area status.
For all families and unrelated individuals in the South, about half could afford a modestly priced house in 1995, the same as in the Northeast. Affordability was greater in the Midwest where 55 percent could afford a modestly priced house, but less in the West where only 39 percent could afford to buy one. In central cities of metropolitan areas, 38 percent could afford a modestly priced house, compared with 55 percent in suburban areas and 51 percent outside metropolitan areas.
http://www.census.gov/hhes/www/housing/ ... affrd.html
