Homeownership falls to lowest level since 1998

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House-Hunters Are Being Hurt by Compulsory Superannuation Stricter lending standards blocked purchases and foreclosures forced people out of their residences resulting in U.S. home ownership rate falling to the lowest level since 1998 in the second quarter. The U.S. Census Bureau said in a report today the ownership rate through June was 65.9 percent, the lowest since the same rate 13 years ago.

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According to The Census Bureau’s Fourth Quarter 2010 survey of Residential Vacancies and Homeownership, the homeownership rate dropped to 66.5% (the lowest level since 1998). The West Region having the lowest level among regions with 61.0%. That same survey shows that the rental vacancy rates have dropped to 9.4% (lowest level since 2003).

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 · Millennials cause homeownership rate to drop to lowest level since 1965. In the second quarter of this year, the rate fell to 62.9 percent, not seasonally adjusted, which is the same as it was in 1965, when the U.S. Census started tracking the metric. During the epic housing boom in the mid-2000s, the rate soared as high as 69.2 percent. That was when politicians touted the so-called "ownership.

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In the first quarter of 2014, homeownership for Americans 35 and under declined to 36.2 percent, down from 36.8 percent in 2013 and the lowest on record since the census’s Housing Vacancy Survey began tabulating homeownership by age in 1982. Homeownership for all ages dropped to 64.8 percent, the lowest level since 1995, a report this week showed.

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 · Homeownership rates continued to decline in the second quarter of 2016 – falling to record low levels not seen since 1965 – according to new data released by the US Census Bureau earlier this week. The current homeownership rate of 62.9 percent is not only the same as it was back in 1965, when the Bureau began tracking the metric, but a considerable drop from 2004’s record high.

It was the lowest rate since the 67.1% mark in the first quarter of 2000. The rate reached its height in Q105 at 69.2%, according to the Census. Homeownership Hits Lowest Rates Since 2000

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