Realtormag
Homeownership among minorities and young people has declined significantly, and these demographic groups are missing out on a jump in home values over the past four years that could have aided them financially, a new Pew Research Center study shows.
Homeownership rates are down across the board. However, the homeownership rate among white households has dropped only 5 percent since the peak in 2004, yet the rate among African-American households has plummeted 16 percent in that time. Further, the homeownership rate among households age 65 and up has dropped just 3 percent compared to 18 percent for those younger than 35, the Pew study shows.
