Diana Olick from CNBC reports that...
Home sales may be rising, but homeownership in the United States is heading down once again. The homeownership rate fell to just 63.6 percent, seasonally adjusted, in the first quarter of this year. Homeownership hit a high of 69.4 percent in 2004, during one of the biggest housing booms in history. The homeownership rate is now just one-tenth of 1 basis point higher than its all-time low in the second quarter of 2015.
Olick explains that rental affordability remains a big problem in many places, and that "We're still seeing relatively few first-time homebuyers because young people are buying homes later than they used to. Some of this is a long-term shift toward marrying and having children later in life. Some of this is that the recovery has been slow among young adults."
Read the full article here: Homeownership near its lowest in history.
