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US: Home ownership hits lowest level since 1965

Posted on 08 August 2011

As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a recent Morgan Stanley report, the United States is fast becoming a nation of renters.
Last Friday, the Census Bureau reported that the percentage of people who owned a home had dropped to 65.9% during the second quarter — its lowest level since the first quarter of 1998 and a far cry from the high of 69.2% reached in late 2004……………………………………….Full Article: Source


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