Skip to main content

Which Presidents Were Best and Worst for Homeownership?

Phil Hall
May 07, 2015
The White House

Can you guess which presidents over the past half-century oversaw the greatest and worst expansions of U.S. homeownership?

According to a new study posted by economist Dr. Roger Thomas on that crunched U.S. Census Bureau data since 1965, the U.S. housing market enjoyed it first “up” cycle went from January 1965 to September 1980, at which point it experiences a relatively mild decline (at least by contemporary standards) until December 1985. From January 1986 until June 1994, housing experienced a “relative lull” until June 1994, rising from 63.8 percent to its peak of 69.2 percent. Since then, homeownership rates have been on the decline, reaching 63.7 percent in the first quarter of this year.

And while it might be unfair to put full credit or full blame on a president for the state of housing during his years in office, the chief executive who oversaw the greatest boom years was Bill Clinton, whose administration coincided with a 5.1 percent increase in homeownership.

At the other end of the spectrum was Barack Obama, whose administration coincided with a 5.3 percent decline in homeownership–nearly double the 2.7 percent drop experienced in Ronald Reagan’s years, whose presidency experienced the second-worst homeownership decline. In comparison, Jimmy Carter’s presidency coincided with a 1.1 percent drop and Lyndon B. Johnson’s White House years saw a 1.1 percent increase.

May 07, 2015
DOJ: Lakeland Bank To Spend $13M To Settle 'Redlining' Claims

Agreement with N.J. bank is the third-largest redlining settlement in Justice Department history.

Industry News
Sep 29, 2022
Angel Oak Layoffs Add To Growing List Of Non-QM Cuts

About 20% of its staff, or 75 people, were affected.

Industry News
Sep 28, 2022
Redwood Trust Names New Chief Investment Officer

Also announces planned CoreVest leadership transition to be completed on 3rd anniversary of acquisition

Industry News
Sep 27, 2022
Fannie Mae Pilot Program Seeks To Help Improve Renters' Credit

Renters, including historically underserved groups, will benefit from paying on time each month.

Industry News
Sep 27, 2022
Suffolk County Data Breach Puts Contracts On Back Burner

Cyberattack beginning Sept. 8 prevents title services from closing loans.

Sep 27, 2022
Nations Lending Opens Another Branch In Arizona

New Scottsdale branch welcomes Arizona native Christine McConnell as lead personal mortgage advisor.

Industry News
Sep 26, 2022