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Posted on June 18, 2014 - 05:25 PM
by john kavazanjian
Home onwnership is esential to the economy an the American way of life. I do understand more people are renting and why they are . Altough it is a small percentage the rate is dorpping and it needs to be watched carefully. Trends are usefull predictors in the real estate market.
WASHINGTON – June 18, 2014 – According to U.S. Census data, the share of Americans who own their homes settled at about 64.8 percent in the first three months of this year – down from 65.2 percent in the fourth quarter of 2013.
The rate has fallen steadily since peaking at 68.9 percent in 2006, due in part to the foreclosure crisis. But even after two years of housing recovery, the pace of homeownership has not returned to pre-recession levels and is, in fact, the lowest it has been since 1995.