Source: housingperspectives.blogspot.com
According to the Census Bureau, the national homeownership rate dropped again in the second quarter of this year, to 63.4 percent. This level represents a nearly 50 year low, and continues the trend of declining homeownership that has been in effect since the end of the mid-2000s housing boom. The flip side of lower homeownership rates, however, is higher shares of households renting their homes.
How long will the homeownership rate continue to slide and when will the pendulum swing in the other direction? While the answer to these questions are unknown at the time, they are extremely important considerations in the path that household formation and housing options unfold over the next decade and beyond.