REALTORMag
The homeownership rate is near its lowest level in more than 50 years. But homeownership remains a “critical part” of the national economy and “ongoing weakness in the single-family housing market, represents a substantial hurdle limiting the pace of economic growth,” according to a newly released study by the Rosen Consulting Group and Fisher Center for Real Estate and Urban Economics for the National Association of REALTORS®.
Yet, ownership in the U.S. has dropped significantly over the past decade.
Through the 1990s and early 2000s, the national homeownership rate jumped to 69.2 percent, adding about 11.3 million new owner households nationwide from 1994 through 2004. That trend shifted, however, as the ownership rate plummeted over the past decade due to the foreclosure crisis and Great Recession.
