US home ownership rates drop to 63.4%, lowest since 1967.

The U.S. homeownership rate fell to 63.4 percent in the second quarter of 2015, according to the U.S. Census. That is down from 63.7 percent in the first quarter and from 64.7 percent in the same quarter of 2014. It marks the lowest homeownership rate since 1967.

Homeownership peaked at 69.2 percent at the end of 2004, when the housing market was in the midst of an epic boom. The 50-year average is 65.3 percent.

“It is now just five-tenths from the record low seen in 1965 in data going back also to 1965,” noted Peter Boockvar, an analyst with The Lindsey Group. “All the governmental attempts (certainly aided and abetted by many players in the private sector) at boosting homeownership has gotten us to this point in time with all the havoc it wreaked over the past 10 years. It’s just another governmental lesson never learned, of don’t mess with the free market and human nature.”

http://www.cnbc.com/2015/07/28/home-ownership-rates-drop-to-lowest-since-1967.html

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  • Noneya

    I have to think that this chart mirrors that of the labor participation rate in the U.S. as well. If you don’t have very good job prospects you certainly aren’t going to by a home, get married, or start a family. And yet just today Obama sees himself as a pretty good president who would get elected for a third term. Something is certainly not adding up people.

  • diogenes

    This statistic is fundamentally deceptive. The “63.4%” of Americans who are said to “own their own homes” is in fact a lie. It actually represents the proportion of Americans who really do own their own homes PLUS the proportion of Americans whose homes are owned by banks, to which they are paying mortgages. The REAL proportion of Americans who own their own homes is less than HALF of this number.