Chart of the Day: US Homeownership Rate 1975-2011
January 31, 2012
This one caught my attention this morning:
Today's Census Bureau data shows the lowest homeownership rate since 1997 with no bottom in site. From Mark J Perry:
"The political obsession with homeownership in the 1990s and early 2000s raised homeownership in the short run to an artificial and unsustainable level of 69% by 2006, but failed in the long run to create a homeownership rate that was sustaintable. In the process, numerous government policies turned good renters into bad homeowners, created a housing bubble, waves of foreclosures, and a subsequent housing meltdown and financial crisis."
Amazing stuff
Source:
Home Ownership Rate Falls to Lowest Level Since 1997 (CarpeDiem)