SEATTLE NEWS ARCHIVES & FEATURES
Reports shows home ownership rate at 50-year low
Aug 29, 2012, 8:23 AM | Updated: Mar 4, 2016, 5:55 am
The U.S. home ownership rate has sunk lower, reaching a 50-year low at 62.1 percent, according to a new report from John Burns Real Estate. (AP Photo/file)
(AP Photo/file)
The U.S. home ownership rate has sunk lower, reaching a 50-year low at 62.1 percent, according to a new report from John Burns Real Estate.
The rate differs from what the Census Bureau is reporting of 65.5 percent.
John Burns Real Estate says the difference in the figures is that the Census Bureau counts homeowners who are 90 days or more delinquent on their mortgage, which stands at about 3.8 million homeowners who are at risk of losing their homes.
“We are confident home ownership will come back,” says Sean Fergus, manager with John Burns Real Estate. “Our survey of 20,000 consumers, and many surveys by others, confirms that the American dream of home ownership is as strong as ever.”
