US homeownership rate drops to 65%

The homeownership rate in the United States dropped in the last quarter to its lowest level since 1995:

The Census Bureau reported Tuesday that the nation’s homeownership rate slipped to 65 percent in the three months that ended in March, a decline from 65.4 percent posted in both the first and last quarters of 2012.

This suggests the housing market is still having a lot of trouble.

Here is the complete 12 page press release from the Census. Some interesting extra info:

-Homeownership rate 1Q 2013 by age: Under 35 36.8%; 35-44 60.1%; 45-54 71.3%; 55-64 77.0%; 65 and over 80.4%.

-Homeownership rate 1Q 2013 by race/ethnicity: Non-Hispanic White alone 73.4%; Black alone 43.1%; All other races 54.6%; Hispanic (of any race) 45.3%.

Here is a table of homeownership rates each decade since 1900 – the biggest jump seems to be from 1940 to 1960, coming out of the Great Depression and then into the era of mass suburbanization.

 

 

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