Home Ownership Rate Nears Record Lows

Home Ownership Rate Nears Record Lows

The home ownership rate made gains in the second half of 2015, but that progress was muted in the latest report from the U.S. Census Bureau. The first quarter of this year saw the home ownership rate back on the decline, plummeting to 63.6%, the third lowest on record. The nation continues to wait on younger Americans to make a move. Home ownership among those aged 25 to 34 years old is nearly 10 percentage points lower than it was a decade ago. One factor in the drop in home ownership is the burden of student loan debt.