Mark Fleming Fleming: “The housing crisis could have tarnished the dream of homeownership in America, but instead homeownership remains a strong beacon for Americans and enduring symbol of success.”

SANTA ANA, CA—“Given Generation X has a high homeownership rate, and Generation Y is expected to as well, I would expect nothing different from the youngest generation,” First American Financial Corp.’s chief economist Mark Fleming tells As we recently reported, ccording to a recent report from the firm, increasing educational attainment indicates the prospect for higher income levels and homeownership demand among Millennials.

Homeownership does tend to be a local issue, Fleming says. “While the national homeownership rate declined modestly in 2016, homeownership rates varied significantly at the market level. Small changes in potential homeownership demand hide the large amount of variation in markets across the country. The underlying factors that the Homeownership Progress Index accounts for can vary substantially by region of the country and market. Regions or markets with stronger local economies and that can attract increasingly educated Millennial households will have stronger homeownership demand in the future.”

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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