Homeownership Reaches Lowest Level Since 1960sadmin / 0 Comments /
The nation’s homeownership rate has fallen to the lowest level since 1967 according to a report released this week by the Census Bureau. As the demand for rentals continue to rise in just about every market nationwide, homeownership dipped to 63.4 percent in the second quarter. Some experts say the homeownership rate, which took a big hit during the Great Recession, may dip even lower before making a rebound. Senior Economist Mark Vitner of Wells Fargo Securities told Crain’s Chicago Business, “We may have another percentage point to go before we see a bottom.”
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