US Homeownership Rate Matches 51-Year Low

The proportion of U.S. households that own homes has matched its lowest level in 51 years — evidence that rising property prices, high rents and stagnant pay have made it hard for many to buy. Just 62.9 percent of households owned a home in the April-June quarter this year, a decrease from 63.4 percent 12 months ago, the Census Bureau said Thursday. The share of homeowners now equals the rate in 1965, when the census began tracking the data. The trend appears most pronounced among...

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