The down market may have left depressed home values across much of the nation, but an overwhelming 72 percent of renters still say owning a home is a top priority. The National Association of Realtors’® (NAR) 2011 National Housing Pulse Survey revealed that homeownership, and access to it, are on the minds of renters.

“Despite the economic setbacks Americans have experienced in today’s current climate, it is clear that a strong majority still believe in home ownership and aspire to own a home,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.

One of the main obstacles to homeownership remains readily available credit and struggles to procure a down payment. The proposed Qualified Residential Mortgage rule, which would require a 20 percent downpayment, has raised concerns from many industry leaders.

The NAR survey revealed that 51 percent of self-described “working class” homeowners who currently own their homes said this new rule would have been a road block to homeownership for them. This same statistic applied to younger non-college graduates, African Americans, and Hispanics.

According to NAR, “Pulse surveys for the past eight years have consistently reported that having enough money for a down payment and closing costs are top obstacles that make housing unaffordable for Americans. Eighty-two percent of respondents cited these as the top obstacle, followed by having confidence in one’s job security.”

Some pundits argue, however, that unchecked lending to underqualified candidates is what led to the housing collapse in the first place. According to the National Bureau of Economics, only 51 percent of Americans could come up with $2,000 cash in case of an emergency. This begs the question, “What part of this 51 percent should be qualified for mortgages to raise homeownership rates?”

Homeownership rates were below 50 percent in the first half of the 1900’s, and only began to rise in the last few decades. Has the recent rise mirrored past gains during times of robust economy. The U.S. Census Bureau reports, “The homeownership rate declined slowly but steadily from 1900 to 1920. A robust economy in the 1920s raised the homeownership rate, but the Great Depression drove the rate to its lowest level of the century at 44 percent in 1940.”

Of course, the interesting statistic would be how many people currently own their homes outright with no mortgage. Recent estimates are around 30 percent. The current foreclosure crisis has taught us that having any mortgage at all means the home is not your house; it’s the bank’s. That means only 30 percent of Americans are homeowners in the truest sense of the word, as harsh as this statistic might sound.

via Realty Times by Carla Hill

Never- Pay- Retail Decorating: A Bargain Huntress Reveals Her Secrets

Annie Schlechter for The Wall Street JournalLIVING ROOM | The Dunbar mosaic tile cocktail table, now worth $18,000, was a $60 flea market prize. Even the Saarinen Tulip table was a deal (no tax, no shipping) online, at circa50.com.

Shake Down Retailers for Sample Sale Details. Almost every vendor does it, even if they don’t broadcast the news. The best way to get the word is by hitching yourself to a particular salesperson. Call them by first name, exchange emails and inquire about the timing of their next event. To make sure you don’t lose an item to a nimbler shopper, stake your claim. I once planted myself on a Ligne Roset chair, tagged 70% off retail, and didn’t budge until my credit card went through. If you’re after big game, such as a sofa, arrange beforehand to have a truck or a moving service on stand-by.

Annie Schlechter for The Wall Street JournalDESK SET | It paid to wait for Blu Dot’s 20% off sale, making the desk a tad more affordable; the Eames Aluminum Group chair was a surprise find at Design Within Reach’s outlet store — at half off.

Be First in Line at Special Design Events. Once through the door, use laser-like focus to nab only what you need. At a recent charity design event, I was briefly distracted by a $45 painting. But I got back on track to land an 8×10-foot graphic-design carpet from The Rug Company—the ne plus ultra of textiles—for 85% off.

Research Product Names. Not all shops make their own stuff, and most won’t readily share manufacturers’ details with you. After swooning over a nine-drawer mirrored chest at a Manhattan atelier, I typed the name of the piece (which was scribbled on the price tag) into Google. Up came the maker, along with the chest’s (lower) suggested retail price and other vendors. I bought it for a fraction of the boutique price with the help of a decorator friend.

Annie Schlechter for The Wall Street JournalBEDROOM | The curvy ’40s mirror that hangs over the bed was $135 at an antiques barn in Stanfordville, N.Y.; the lamp and nightstand were scores from a Jonathan Adler warehouse sale.

Join the Art Club. Filling a blank wall canvas is tough for most of us. You can access gallery-worthy pieces by joining so-called Collectors or Editions Clubs. Sponsored by various arts centers, memberships cost a few hundred dollars annually and include a limited-edition work by a different artist each year. I cherish my Polly Apfelbaum “Tough Love” lithograph from Tamarind Institute (tamarind.unm.edu). I got it in 2007 for $450; it has a current value of $1,500. Check out similar programs at Dieu Donné (dieudonne.org) and the Center for Contemporary Printmaking (contemprints.org).

Think of Old as New Again. Places like West Elm sell variations of vintage objects, especially glass and ceramics. But the real thing, easily found at flea markets and on eBay, can be a better buy, and a better investment. An example: Designs by Waylande Gregory, an Art Deco ceramicist, are being reissued for prices that can exceed $1,000. Some of his originals are online for much less. Other great names to investigate: Blenko (American) and Holmegaard (Danish).

Rock Bargains Outside Your ZIP Code. When I spotted Ric Ocasek at a two-story antiques joint near Millbrook, N.Y., I figured I was onto something good—and I was right. I scored a midcentury Harvey Probber nighttable for $45. The best such places aren’t usually located on the main drag of exclusive towns, but rather a few turns down the road—so ask around.

Annie Schlechter for The Wall Street JournalHOME GALLERY | Bargain eclectic art hangs over a mirrored chest from Bungalow 5 (purchased at discount with a decorator friend’s help).

Be Charming, Be Curious. If you can genuinely engage staffers, a bargain is sure to slide your way. The warehouse manager at Jonathan Adler declared, “I love your laugh!” and knocked another $200 off the sale price of a glossy black patent Regency-esque chair. Remembering sellers—and touting them to friends—is also key. This shows your willingness to help promote their wares.

Via: Wall Street Journal by Shelly Branch