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Homeownership Falls Back from Recent Gains

Posted To: MND NewsWire

In the second quarter of last year the homeownership rate hit its lowest level in U.S. Census Bureau reports going back 20 years, 62.9 percent. This capped off a slide that began shortly before the financial crisis and after homeownership reached an all-time high of 69.2 percent in two separate quarters of 2004. It stayed close to that level though most of 2006. After hitting that low last year, homeownership ticked up in each of the next two quarters, reaching 63.7 percent in the fourth quarter of 2016. The Census Bureau released first quarter results for 2017 late last week, and the rate did not continue to rise as hoped, but ticked back down to 63.6 percent. Homeownership was highest in the Midwest at 67.6 percent and lowest in the West at 59.0 percent. The ten-year decline in homeownership…(read more)

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Source: Mortgage News Daily

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