According to research released by the US Department of Commerce Census Bureau, the rates of homeownership is dipping to levels not seen since the second quarter of the year 2000. The data indicates that gains in ownership obtained during the recent housing boom in the country are now gone. Currently, 67.3% of Americans own homes, according to the Census Bureau. This number peaked in Q105 at 69.1%. By comparison, the research found a historic low of 63.6% in the fourth quarter of 1985. Rates of homeownership are falling comparatively across racial lines since the boom ended. Today, as in 2006, blacks represent fewest mortgage borrowers, with 46.1% of the population currently owning their home. Hispanics followed at 48.6%, with the vague category of “all other races” experiencing a homeownership rate of 57.4%. 74.7% of adult whites own their homes. Write to Jacob Gaffney at [email protected].
Homeownership Now at 2000 Levels
Most Popular Articles
Latest Articles
Selling your home to a family member in 5 easy steps
Selling your home to a family member can be beneficial but requires careful planning and transparent communication. Follow these five steps to ensure a smooth transaction, from agreeing on logistics and assembling a professional team to determining your home’s value and understanding tax implications.
-
FOA reverse stock split goes into effect, appears to have intended impact
-
Senate Aging Committee leaders introduce bill on aging in place
-
HousingWire Pulse: Respondents show cautious optimism about the Q3 housing market
-
US Senate committee approves full funding for Ginnie Mae
-
Connecticut Senator asks HUD for answers on backlog of discrimination complaints