Homeownership Stuck in Neutral as Rents Rise

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Posted To: MND NewsWire

The overall homeownership rate barely budged in the third quarter of 2017, and remains only 1 percentage point above its all-time low reached in the second quarter of last year. The U.S. Census Bureau put the current rate at 63.9 percent. In the second quarter of 2017 63.7 percent of households owned a home. The stubbornly low rate has troubled economists and other analysts, with some saying we could be becoming a nation of renters . The rate peaked at 69.2 percent in both the second and fourth quarters of 2004 and has trended down ever since. Even more troubling is the age distribution of homeownership and what it could portend. While rates have declined from their peaks in the pre-crash period across all age groups, the degree of decline is generally higher among the younger ones. The oldest…(read more)

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