Homeownership Rate at Lowest Level in a Decade

Real estate news and analysis from The Wall Street Journal

The nation’s homeownership rate remained at its lowest in more than a decade, the AP’s Alan Zwibel reports, hampered by a rise in foreclosures and weak demand for housing.

The percentage of households that owned their homes was unchanged at 66.9% in the July-September quarter, the Census Bureau said Tuesday. That’s the same as the April-June quarter. The last time the rate was lower was in 1999, when the rate was 66.7%. The homeownership rate was around 64% from 1985 through 1995. It then rose dramatically during the Clinton and Bush administrations, hitting a peak of more than 69% in 2004 at the height of the housing boom.

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