Housing market another battlefield for U.S. Vets

“New data reveals that our nation’s veterans face unique challenges when it comes to achieving homeownership. When members of our military leave active duty and return to the United States, in most cases they do not return to a home they own. In fact, only 18 percent of veterans return to a home they already own at the end of their service, and only one-third of military families report actually looking for a home within a year of return from active duty, according to the CENTURY 21 Harris poll.
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“As military service members return from duty and transition to civilian life, 93 percent of veterans indicate that homeownership is important to them.
“The top road blocks for veterans are the price of homes (36 percent); an inability to come up with a down payment (31 percent); and personal savings (28 percent).
“Physical or mental health problems create further disadvantages for veterans when it comes to finding employment and a home. It is projected that one in every four homeless persons in this country is a veteran. According to January 2012 figures, there were over 62,000 homeless veterans.
“The unemployment rate among veterans is 16 percent, which is more than double the nation’s average unemployment rate.
“Seventy-five percent say that owning a home is one of the most important things for a soldier returning home.
“Among the reasons that becoming a homeowner is so significant to veterans are a desire to have their own residence (73 percent), to establish a household (43 percent), and to achieve financial security (36 percent). In addition, the majority of veterans (88 percent) indicated that owning a home makes them feel safer.”
Summary from California Association of Realtors (CAR). Read the full story: www.blog.sfgate.com/ontheblock/2013/11/11/housing-market-another-battlefield-for-u-s-vets/
Source: The San Francisco Chronicle
Renee West
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Renee West

I'm a real estate broker associate in Newport Beach & Corona del Mar, CA, with Berkshire Hathaway HomeServices California Properties.
Contact me at (714) 914 9060 or renee@bhhscdm.com for all you real estate wants and needs.
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