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
Spring housing market gets more inventory
We’ve now had back-to-back weeks of healthy housing inventory growth, making spring 2024 much healthier than spring 2023.
-
The best real estate podcasts for agents and brokers in 2024
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program