Trulia has undertaken an in-depth analysis of American Community Survey data to reveal some of the impacts of the recession on the housing market.
"To get a clearer picture of who lost out on the American Dream of homeownership, we used the American Community Survey data from 2006 to 2014 to uncover who saw the biggest shift from being a homeowner to a renter by age, gender, race, and income in the 50 largest U.S. metros," according to a post by Mark Uh for Trulia.
In total, the number of homeowners that became renters might seem surprisingly low. "From the top of the housing bubble roughly a decade ago until just recently, there’s been a five percentage-point increase in the number of renters to owners to 43.3% from 38.5%," writes Uh.
But taking a closer look at demographic groups and around the country, a more nuanced portrait of the impacts of the Great Recession on homeowners emerges. The article includes a lot more data and insight into each of the trends described by the data.
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