| The 65.4% homeownership rate in the first quarter is down from 66.4% a year earlier, according to the Census Bureau. But recent data suggest the housing market's outlook is promising.
High foreclosure rates and a strong rental market pushed the homeownership rate in the U.S. to a 15-year low, even as projections for the housing market grew brighter. The 65.4% rate in the first quarter is down from the 66% rate in the fourth quarter and 66.4% in the first quarter of last year, according to the Census Bureau. Before the housing bubble burst, homeownership reached a high of 69.2% in 2004...............................................Full Article: Source |