Home Ownership Has Plummeted

By: Elizabeth Nickerson Email
By: Elizabeth Nickerson Email

By: Elizabeth Nickerson
August 4, 2013

Tallahassee, FL--The amount of Floridians owning homes has tanked and now more people are renting, according to the latest U.S. Census. Since 2005 home ownership in Florida has gone from 72 percent down to 66 percent in the second quarter of 2013.
In Georgia, the rate fell from 68 percent down to 65 percent.

"I was this close to buy me a house, but you know one of the first thing that happen, I lost my job," said Carlos Portillo, a Florida renter. "That's the dream, my goal for my family."

Carlos Portillo is like many people going through financially tough times. A Tallahassee Realtor who spoke to us over the phone says the state of the economy is the worse it's been since the 1930's.

"The last five to six years people could not afford to qualify anymore," said Bob Teel, from Community Realty over the phone Sunday. "It's a dramatic change and it has been effecting everyone in the nation and in reality If you take less money home, you have less money to spend."

Families in the area say one reason they can not buy their dream home is because of the job market.

"I think until the job market gets better and the banks are more willing to loan the people money and people find work, it's going to be hard," said Eileen Kaufman, a Florida Resident.

Teel says if you are ready to take the plunge and buy a home remember to do a few things. First, ,check your credit score and see what you can afford by using a mortgage calculator.

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