In 2014, 5.3 percent of insured homes had a claim, according to ISO. Property damage, including theft, accounted for 97.3 percent of those claims. Changes in the percentage of each type of homeowners loss from one year to another are partially influenced by large fluctuations in the number and severity of weather-related events such as hurricanes and winter storms. There are two ways of looking at losses: by the average number of claims filed per 100 policies (frequency) and by the average amount paid for each claim (severity).
On average, over the past nine years about half of homeowners said they prepared an inventory of their possessions to help document losses for their insurers, according to polls conducted for the Insurance Information Institute (I.I.I.). Fifty-two percent of homeowners said they had an inventory in a June 2015 I.I.I. survey.
More from the Insurance Information Institute
Showing posts with label homeowners. Show all posts
Showing posts with label homeowners. Show all posts
Monday, March 21, 2016
Monday, November 10, 2014
Homeowner trends: fewer homes are underwater, but have no sidewalks
The number of homeowners who owe more for their house than it is worth fell by 1.7 million between 2011 and 2013, according to the Census Bureau's American Housing Survey.
Just over 5 million homeowners reported in 2013 that they were underwater on their mortgage--or 11 percent of homeowners with a mortgage. This was less than the 6.8 million and 14 percent of homeowners with a mortgage who reported being underwater in 2011. Despite the progress, the 2013 figure is more than double what it was in 2007.
From the Demo Memo
Only 56 percent of U.S. households have sidewalks in their neighborhood, according to the 2013 American Housing Survey. Sidewalks are even less common in the neighborhoods of the nation's homeowners—only 48 percent have them compared with 71 percent of renters.
Renters are more likely to have sidewalks in their neighborhood because many live in central cities where sidewalks are the norm.
From the Demo Memo
Just over 5 million homeowners reported in 2013 that they were underwater on their mortgage--or 11 percent of homeowners with a mortgage. This was less than the 6.8 million and 14 percent of homeowners with a mortgage who reported being underwater in 2011. Despite the progress, the 2013 figure is more than double what it was in 2007.
From the Demo Memo
Only 56 percent of U.S. households have sidewalks in their neighborhood, according to the 2013 American Housing Survey. Sidewalks are even less common in the neighborhoods of the nation's homeowners—only 48 percent have them compared with 71 percent of renters.
Renters are more likely to have sidewalks in their neighborhood because many live in central cities where sidewalks are the norm.
From the Demo Memo
Wednesday, April 9, 2014
Homeownership in 2013
The nation's homeownership rate fell to 65.1 percent in 2013, according to annual statistics released by the Census Bureau. The 2013 homeownership rate was down from 65.4 percent in 2012 and the all-time high of 69.0 in 2004. By age, 2013 homeownership rates (and the percentage point change since 2004) look like this...
Under age 25: 22.2% (-3.0)
Aged 25 to 29: 34.1% (-6.1)
Aged 30 to 34: 48.1% (-9.3)
Aged 35 to 39: 55.8% (-10.4)
Aged 40 to 44: 65.0% (-6.9)
Aged 45 to 54: 71.2% (-6.0)
Aged 55 to 64: 76.6% (-5.1)
Aged 65-plus: 80.8% (-0.3)
If homeownership rates by age were the same in 2013 as in 2004, then the overall rate would be a much higher 70.3 percent rather than 65.1. The United States would have nearly 6 million more homeowners--81 million rather than the 75 million of 2013. Among households headed by 30-to-39-year-olds, there would be 2 million more homeowners.
Under age 25: 22.2% (-3.0)
Aged 25 to 29: 34.1% (-6.1)
Aged 30 to 34: 48.1% (-9.3)
Aged 35 to 39: 55.8% (-10.4)
Aged 40 to 44: 65.0% (-6.9)
Aged 45 to 54: 71.2% (-6.0)
Aged 55 to 64: 76.6% (-5.1)
Aged 65-plus: 80.8% (-0.3)
If homeownership rates by age were the same in 2013 as in 2004, then the overall rate would be a much higher 70.3 percent rather than 65.1. The United States would have nearly 6 million more homeowners--81 million rather than the 75 million of 2013. Among households headed by 30-to-39-year-olds, there would be 2 million more homeowners.
Wednesday, January 30, 2013
Homeownership Rates Among Foreign-Born Increase with Time in US, Citizenship
According to the U.S. Census Bureau, more than half (52 percent) of foreign-born householders owned their homes in 2011. In contrast, about two-thirds (67 percent) of native-born householders owned their homes.
A new report, Homeownership Among the Foreign-Born Population: 2011, released today, examines the homeownership and renter status among foreign-born households based on data from the 2011 American Community Survey.
"Homeownership is a goal shared by many residents of the United States, both native- and foreign-born, citizen and noncitizen," said Elizabeth Grieco, chief of the Foreign-Born Population Branch at the Census Bureau. "For immigrants in particular — who maintain nearly one in seven households in the U.S. — making the transition from renter to homeowner represents a significant investment in the United States."
A household is designated as native- or foreign-born based on the nativity of the householder, regardless of the other occupants’ nativity. A householder is the person, or one of the people, in whose name the home is owned, being bought or rented. Country and region of origin of the household are based on the nativity of the householder as well.
This report found that foreign-born naturalized citizens were more likely to own their homes than foreign-born noncitizens. In naturalized citizen households, 66 percent were owner-occupied. That compares with 34 percent of noncitizen households.
Rates of homeownership among foreign-born households also increased with time spent in the United States. Among foreign-born households with a householder who entered the country before 1980, nearly three-fourths were owned rather than rented. Among households headed by someone who entered the U.S. since 2000, only one-fourth were owned.
According to the brief, just 10 metropolitan statistical areas accounted for about half the nation’s foreign-born households in 2011, led by New York and Los Angeles, each of which had more than 1 million foreign-born households. Rounding out the top five were Miami, Chicago and Houston.
Nearly half, or about 45 percent, of the metropolitan areas in the Northeast, particularly in New York and Pennsylvania, exceeded the national homeownership average for foreign-born households of 52 percent. These areas included Allentown, Pa.; Lancaster, Pa.; Philadelphia; Poughkeepsie, N.Y.; Rochester, N.Y.; and Syracuse, N.Y.
Homeownership by the foreign-born varied considerably around the country. States such as Alaska, Maine, Michigan, New Hampshire and New Mexico had homeownership rates of about 60 percent among foreign-born households. In contrast, fewer than 40 percent of foreign-born households were owned rather than rented in Washington, D.C., and New York.
There was considerable variation in homeownership rates among the various region-of-birth households in 2011. For example, 66 percent of households with a householder from Europe were owner-occupied, compared with 40 percent of households headed by someone born in Africa. In general, foreign-born households with a householder from Europe, Asia and other regions were more likely to own their homes than those headed by someone from Africa and Latin America and the Caribbean.
The American Community Survey provides a wide range of important statistics about people and housing for every community across the nation. The results are used by everyone from town and city planners to retailers and homebuilders. The survey is the only source of local estimates for most of the 40 topics it covers, such as education, occupation, language, ancestry and housing costs for even the smallest communities. Ever since Thomas Jefferson directed the first census in 1790, the census has collected detailed characteristics about our nation’s people. Questions about jobs and the economy were added 20 years later under James Madison, who said such information would allow Congress to “adapt the public measures to the particular circumstances of the community,” and over the decades, allow America “an opportunity of marking the progress of the society.”
A new report, Homeownership Among the Foreign-Born Population: 2011, released today, examines the homeownership and renter status among foreign-born households based on data from the 2011 American Community Survey.
"Homeownership is a goal shared by many residents of the United States, both native- and foreign-born, citizen and noncitizen," said Elizabeth Grieco, chief of the Foreign-Born Population Branch at the Census Bureau. "For immigrants in particular — who maintain nearly one in seven households in the U.S. — making the transition from renter to homeowner represents a significant investment in the United States."
A household is designated as native- or foreign-born based on the nativity of the householder, regardless of the other occupants’ nativity. A householder is the person, or one of the people, in whose name the home is owned, being bought or rented. Country and region of origin of the household are based on the nativity of the householder as well.
This report found that foreign-born naturalized citizens were more likely to own their homes than foreign-born noncitizens. In naturalized citizen households, 66 percent were owner-occupied. That compares with 34 percent of noncitizen households.
Rates of homeownership among foreign-born households also increased with time spent in the United States. Among foreign-born households with a householder who entered the country before 1980, nearly three-fourths were owned rather than rented. Among households headed by someone who entered the U.S. since 2000, only one-fourth were owned.
According to the brief, just 10 metropolitan statistical areas accounted for about half the nation’s foreign-born households in 2011, led by New York and Los Angeles, each of which had more than 1 million foreign-born households. Rounding out the top five were Miami, Chicago and Houston.
Nearly half, or about 45 percent, of the metropolitan areas in the Northeast, particularly in New York and Pennsylvania, exceeded the national homeownership average for foreign-born households of 52 percent. These areas included Allentown, Pa.; Lancaster, Pa.; Philadelphia; Poughkeepsie, N.Y.; Rochester, N.Y.; and Syracuse, N.Y.
Homeownership by the foreign-born varied considerably around the country. States such as Alaska, Maine, Michigan, New Hampshire and New Mexico had homeownership rates of about 60 percent among foreign-born households. In contrast, fewer than 40 percent of foreign-born households were owned rather than rented in Washington, D.C., and New York.
There was considerable variation in homeownership rates among the various region-of-birth households in 2011. For example, 66 percent of households with a householder from Europe were owner-occupied, compared with 40 percent of households headed by someone born in Africa. In general, foreign-born households with a householder from Europe, Asia and other regions were more likely to own their homes than those headed by someone from Africa and Latin America and the Caribbean.
The American Community Survey provides a wide range of important statistics about people and housing for every community across the nation. The results are used by everyone from town and city planners to retailers and homebuilders. The survey is the only source of local estimates for most of the 40 topics it covers, such as education, occupation, language, ancestry and housing costs for even the smallest communities. Ever since Thomas Jefferson directed the first census in 1790, the census has collected detailed characteristics about our nation’s people. Questions about jobs and the economy were added 20 years later under James Madison, who said such information would allow Congress to “adapt the public measures to the particular circumstances of the community,” and over the decades, allow America “an opportunity of marking the progress of the society.”
Wednesday, November 21, 2012
Home Inspection Fee Calculator
If you buying a house, you need to get an inspection. Rates tend to run from $200 to over $500. Here's a good rule of thumb for inspectors. I also appreciate the specificity of this calculator.
Wednesday, February 1, 2012
Housing Vacancies and Homeownership
Homeownership Rate (HR)
The homeownership rate in the third quarter 2011 (66.3 percent) was lower than the third quarter 2010 rate (66.9 percent). The homeownership rates in the Midwest and South were lower than their corresponding third quarter 2010 rates.
Rental Vacancy Rate (RVR)
The rental vacancy rate in the fourth quarter 2011 (9.4 percent) was approximately the same as the fourth quarter 2010 rate (9.4 percent).
Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate of 2.3 percent in fourth quarter 2011 was lower than the fourth quarter 2010 rate (2.7 percent).p>
4th Qtr 2011
(HR): 66.0 percent
3rd Qtr 2011
(HR): 66.5 percent
More HERE.
The homeownership rate in the third quarter 2011 (66.3 percent) was lower than the third quarter 2010 rate (66.9 percent). The homeownership rates in the Midwest and South were lower than their corresponding third quarter 2010 rates.
Rental Vacancy Rate (RVR)
The rental vacancy rate in the fourth quarter 2011 (9.4 percent) was approximately the same as the fourth quarter 2010 rate (9.4 percent).
Homeowner Vacancy Rate (HVR)
The homeowner vacancy rate of 2.3 percent in fourth quarter 2011 was lower than the fourth quarter 2010 rate (2.7 percent).p>
4th Qtr 2011
(HR): 66.0 percent
3rd Qtr 2011
(HR): 66.5 percent
More HERE.
Monday, October 10, 2011
States With The Highest (and Lowest) Homeownership
The dream of owning a home has become increasingly unattainable for many Americans, and the situation is not likely to improve soon, as the collapse of the housing market and the recession continue to take their toll. That is the disturbing conclusion to be drawn from the US Census Bureau’s newly released report Housing Characteristics: 2010, an overview of the national home market at the end of the last decade. One of the highlights of the report is a list of the states that have the highest and lowest percentage of homes occupied by their owners. 24/7 Wall St.’s review of the data found that homeownership rates were high in thinly populated states and those with low home prices, while homeownership was low in states with expensive homes and large cities.
The homeownership rate is the second highest on record, behind only 2000, since homeownership data collection began in 1890. However, the rate decreased by 1.1 percentage points to 65.1 percent between 2000 and 2010. The decrease is the largest since the period from 1930 to 1940.
The homeownership rate is the second highest on record, behind only 2000, since homeownership data collection began in 1890. However, the rate decreased by 1.1 percentage points to 65.1 percent between 2000 and 2010. The decrease is the largest since the period from 1930 to 1940.
Friday, March 4, 2011
A home purchased in 1890 is NOW worth…
...pretty much what you bought it for 120 years ago...taking inflation into account. As DD Dale said, "Great investment, huh?"
Saturday, August 21, 2010
Census Bureau Releases Detailed Information on Nation’s Housing
U.S. Monthly Housing Costs Reach $1,000 for Homeowners
The nation's homeowners paid a median of $1,000 in monthly housing costs in 2009, compared with $808 for renters, according to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. However, renters usually paid a higher percentage of their household income on these costs than did owners (31 percent compared with 20 percent).
The nation's homeowners paid a median of $1,000 in monthly housing costs in 2009, compared with $808 for renters, according to data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. However, renters usually paid a higher percentage of their household income on these costs than did owners (31 percent compared with 20 percent).
Saturday, August 1, 2009
Residential Vacancies and Homeownership
National vacancy rates in the second quarter 2009 were 10.6 (+ 0.4) percent for rental housing and 2.5 (+ 0.1) percent for homeowner housing, the Department of Commerce’s Census Bureau announced. The Census Bureau said the rental vacancy rate was higher than the second quarter 2008 rate (10.0 percent) and higher than the rate last quarter (10.1 percent). For homeowner vacancies, the current rate was lower than the second quarter 2008 rate (2.8 percent) and lower than the rate last quarter (2.7 percent). The homeownership rate at 67.4 (+ 0.5) percent for the current quarter was lower than the second quarter 2008 rate (68.1 percent), but not statistically different from last quarter’s rate (67.3 percent).
Tuesday, October 30, 2007
Renters Four Times More Likely to Move
The U.S. Census Bureau has released a series of 34 tables on the 40 million Americans who moved between 2005 and 2006, including characteristics of movers by type of move.
The package of tables, Geographical Mobility: 2006, describes migration in the United States in 2006. Other data include the annual rate of moving, the distance moved and differences in extent and type, for example, from the Northeast to the South or from the suburbs to a principal city.
Published annually at the national and regional levels, these tables reveal trends about migration in the United States. Characteristics of movers include data by race and Hispanic origin, age, marital status, educational attainment, labor force status, occupation and industry group, income and poverty status.
These estimates are from the Annual Social and Economic Supplement to the 2006 Current Population Survey.
Some of this year’s findings include the following:
In 2006, 39.8 million United States residents moved within the previous one-year period.
The moving rate remained statistically unchanged from 2005 at 14 percent.
Nearly half of the reasons given for moving (18.4 million) were housing related, such as wanting a bigger or smaller house.
The West had the highest moving rate (16 percent), followed by the South (15 percent), the Midwest (13 percent) and the Northeast (10 percent).
Hispanics had the highest moving rate (18 percent), followed by blacks (17 percent), Asians (14 percent) and non-Hispanic whites (12 percent).
In 2006, nearly one-third (30 percent) of all people living in renter-occupied housing units lived elsewhere a year earlier. The moving rate for people living in owner-occupied housing units was 7 percent.
For the population 16 and older, 24 percent of those who were unemployed in 2006 lived in a different place a year earlier. This compares with 14 percent of those who were employed in 2006 and 10 percent for those not in the labor force.
Most movers stayed within the same county (62 percent), while 20 percent moved from a different county within the same state; 14 percent moved from a different state and 3 percent moved from abroad.
- x -
Editors Note: Data in the report come from the Current Population Survey. Statistics from sample surveys are subject to sampling and nonsampling error. For further information on the source of the data and accuracy of the estimates, including standard errors and confidence intervals, go to Appendix G of the technical document.
Tom Edwards
Public Information Office
301-763-3030/763-3762 (fax)
301-457-1037 (TDD)
e-mail: pio@census.gov
The package of tables, Geographical Mobility: 2006, describes migration in the United States in 2006. Other data include the annual rate of moving, the distance moved and differences in extent and type, for example, from the Northeast to the South or from the suburbs to a principal city.
Published annually at the national and regional levels, these tables reveal trends about migration in the United States. Characteristics of movers include data by race and Hispanic origin, age, marital status, educational attainment, labor force status, occupation and industry group, income and poverty status.
These estimates are from the Annual Social and Economic Supplement to the 2006 Current Population Survey.
Some of this year’s findings include the following:
In 2006, 39.8 million United States residents moved within the previous one-year period.
The moving rate remained statistically unchanged from 2005 at 14 percent.
Nearly half of the reasons given for moving (18.4 million) were housing related, such as wanting a bigger or smaller house.
The West had the highest moving rate (16 percent), followed by the South (15 percent), the Midwest (13 percent) and the Northeast (10 percent).
Hispanics had the highest moving rate (18 percent), followed by blacks (17 percent), Asians (14 percent) and non-Hispanic whites (12 percent).
In 2006, nearly one-third (30 percent) of all people living in renter-occupied housing units lived elsewhere a year earlier. The moving rate for people living in owner-occupied housing units was 7 percent.
For the population 16 and older, 24 percent of those who were unemployed in 2006 lived in a different place a year earlier. This compares with 14 percent of those who were employed in 2006 and 10 percent for those not in the labor force.
Most movers stayed within the same county (62 percent), while 20 percent moved from a different county within the same state; 14 percent moved from a different state and 3 percent moved from abroad.
- x -
Editors Note: Data in the report come from the Current Population Survey. Statistics from sample surveys are subject to sampling and nonsampling error. For further information on the source of the data and accuracy of the estimates, including standard errors and confidence intervals, go to Appendix G of the technical document.
Tom Edwards
Public Information Office
301-763-3030/763-3762 (fax)
301-457-1037 (TDD)
e-mail: pio@census.gov
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