Tuesday, May 7, 2013

DSNews: Homeownership Rate Drops to 18-Year Low

As noted in our recent post on homeownership rates, homeownership has been declining in recent years for a variety of reasons. According to DSNews the national rate has fallen off considerably:

The number of households owning homes fell 698,000 to 74,511,000 in the first quarter, the first decline in almost two years, according to a Census Bureau report Tuesday. At the same time, the nation’s homeownership rate fell to 65 percent (seasonally adjusted), the lowest level since the fourth quarter of 1995.
See also: Tight Lending, Foreclosures to Prompt Homeownership Declines:
With the homeownership rate already at its lowest point since 1995, Capital Economics predicts further decline before a rebound occurs.