U.S. Homeownership Rate Hits 20-Year Low
” The homeownership rate in the United States dropped to a 20-year low of 64.5 percent in 2014, according to new data released by the Census Bureau.
The homeownership rate is the percentage of households that own the home in which they live. “It is computed,” says the Census Bureau, “by dividing the number of households that are owners by the total number of occupied households.”
The last time the annual homeownership rate was lower than 64.5 percent was in 1994, when it was 64.0%, according to Table 15 in the Census Bureau’s “Housing Vacancies and Homeownership” data.”
That “Change We Can Believe In © ” just keeps on giving … continue reading , but to be honest this is more a reflection of a market correction back towards the sanity of less “free money” demanded of the banks by Statist programs designed to allow unqualified people to borrow so maybe it’s an inadvertent good thing .
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