DoubleLine’s Jeffrey Gundlach just gave a presentation on the markets and the economy (you can see the whole thing here).
Among many other things, he discussed the housing market. He presented this chart on historical homeownership rates and he pointed to the recent turn in homeownership rates. And he warns that this is just a blip and that homeownership rates are headed lower. Specifically, he notes that persistently high unemployment rates and lack of capital gains doesn’t support a turn in homeownership.
Photo: DoubleLine Funds