Number of U.S. Homeowners Hits 20-Year Low
In 2014, the rate of Americans who own their homes slid for the 10th consecutive year, to 64.5 percent -- the lowest level in 20 years, according to a report by the Joint Center for Housing Studies at Harvard University.
In 2014, the rate of Americans who owned their homes slid for the 10th consecutive year, to 64.5 percent — the lowest level of homeownership in 20 years, according to a report by the Joint Center for Housing Studies at Harvard University.
The Guardian reports:
Even as US is on the path to recovery and unemployment has dropped to 5.5%, homeownership rate still continues to fall. In the first quarter of this year, it has dropped to 63.7% – lowest quarterly rate since early 1993. …
Home ownership is not just slipping through the fingers of the younger millennial generation. The homeownership rate for those 35 to 44 years old has fallen the most and is down 5.4% since 1993. Their homeownership level is down to the levels not seen since the 1960s.
There are many different factors that are contributing to this trend – from high student loan debt among younger Americans to rising home prices and stagnant incomes to tougher lending standards.
Read more here.
— Posted by Alexander Reed Kelly.
Wait, before you go…If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
There are currently no responses to this article.
Be the first to respond.