Daily Real Estate News | April 28, 2009

Homeownership at Lowest Level Since 2000

According to the Census Bureau, the rate of U.S. homeownership slipped in the 2009 first quarter to the lowest level since the start of the decade.

The U.S. homeownership rate dropped to 67.5 percent from 68 percent a year earlier, driven largely by a sharp decline among younger buyers as well as among African-American households.

Loose credit pushed up national homeownership levels in recent years, but the trend is now being reversed by the recession and a foreclosure epidemic.

Source: The Wall Street Journal, Conor Dougherty (04/28/09)