Millennial Homeownership Inches Higher

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Posted To: MND NewsWire

The Census Bureau reports that the homeownership rate, while up fractionally in the third quarter of this year compared to Quarter 2, was essentially unchanged from one year earlier. The Bureau’s Vacancies and Homeownership Report put the national rate at 64.8 percent. That rate peaked at more than 69 percent on several occasions during the 2004-2006 housing boom before beginning a decline that lasted more than a decade. The rate bottomed out at 62.9 percent in the second quarter of 2016 and has risen only slightly since then. The good news is that the greatest annual increase in homeownership over the previous 12 months was among the youngest age cohort , those under 35 years of age, a group fell far behind earlier generations of the same age during the Great Recession. Their rate, 37.5 percent…(read more)

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