Is Homeownership Still the American Dream? William R. Emmons' Presentation
Economist William R. Emmons said that the desire to own homes still is strong but that large and lasting effects of the housing crash and Great Recession continue to chip away at homeownership rates. Emmons broke down trends by age groups and by race and ethnicity. He predicted that the overall decline will continue for years, and he discussed what it might take to reverse the trend. Emmons is an assistant vice president at the St. Louis Fed and its senior economic adviser at the Center for Household Financial Stability.