“More Americans bought homes in May” as the opening of this article says in today's New York Times? Nope.
More houses were sold in May than in April. Regardless of the article's opening sentence in today's Times, however, they were sold mostly to ventures for rentals. So, more homes sold, fewer Americans bought them actually.
Looks like a job for renter's insurance. Homeowner's insurance in the near future, at least? Not so much.
Please Read The Disclaimer. Copyright 2015 by Dennis J. Wall, author of "Lender Force-Placed Insurance Practices" (American Bar Association 2015). All Rights Reserved.
Postscript: The following day the same newspaper published this in an article reporting that rentals are up, home ownership is down:
It's more of a new normal. We went through a wrenching experience with the biggest housing bubble and the biggest collapse since 1890. This is an anxious time.
Robert J. Shiller, an economics professor at Yale University and a Nobel laureate, quoted by Dionne Searcey, "The Landlord Blues" p. B1, col. 1 (New York Times Nat'l ed., "Business Day" Section, Wednesday, June 24, 2015).
Image Copyright Dennis J. Wall 2015. All rights reserved.